November 25, 2014
V-Rooms™ Virtual Data Rooms announced today that it is expanding its password-protected website services for 17 CFR 240.17g-5. The service allows rating agencies, arrangers, lawyers, and investors to securely access confidential files, documents and data in compliance with SEC Rule 240 17g-5.
“We are excited to announce the expanded 17g-5 compliant cloud service”, said Jesse Placencia, Director of Business Development at V-Rooms™. “We believe the expanded services will streamline the process in meeting regulatory compliance guidelines at an economical cost of only $299 per month or $2,500 per year.”
The SEC rule requires Nationally Recognized Statistical Rating Organizations (NRSRO) and anyone seeking a rating for a structured finance product or security to provide required information in a password-protected Internet Web site. The SEC made this rule as a way of encouraging NRSROs who have not been retained by the issuer or arranger of the financial product to also rate them. The rule also requires NRSROs, when conducting their own research into a structured financial product, to make 10% of these research reports publicly available in the form of a rating.
“ V-Rooms™ is the perfect solution for compliance with SEC Rule 17g-5 because it provides an on-demand, easy to use, secure solution for distributing information to geographically dispersed parties”, said Dan Bradbary, CEO of V-Rooms™. “ V-Rooms™ is password protected and can be accessed 24/7/365. Our document repository and collaboration solution offers banking level security and full document audit trails.”
About V-Rooms™:
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Sofware-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at here.
