ARLINGTON, Texas, Jan. 15, 2013 (GLOBE NEWSWIRE) -- First Rate, a leading provider of performance measurement solutions for the financial services industry, today announced it has received its final SSAE SOC2 Type 2 report for 2011-2012.
"The third-party confirmation means that our corporate facilities, data centers, and information security practices and procedures exceed the standards described by the SSAE 16," said Bo McWilliams, Director of ASP at First Rate. "The report is one of many steps that First Rate takes to provide exceptional service and ensure confidentiality to our clients."
The Statement on Standards for Attestation Engagements (SSAE) No. 16 is a certification of a vendor's policies, procedures and data security controls. The reporting standard is a requirement for firms that are responsible for handling confidential and proprietary data. The SSAE 16 replaces the SAS 70 as the authoritative guideline for reporting on organizations. The Service Auditor's Report by a third-party organization differentiates the service organization by demonstrating the establishment of control objectives and effectively designed control activities.
For more than 9 years, First Rate has met the standards designated for the SAS 70 and now the SSAE 16, being recognized as an organization that has gone through the in-depth audit of its control objectives and control activities, including controls over information technology and related processes.
For more information about the SSAE 16 or the replacement of the SAS 70 standards, please visit http://ssae16.com/index.html.
About First Rate
Wealth management companies nationwide trust First Rate for superior investment performance measurement technology. Dedicated to providing a unique level of focus, depth and expertise, First Rate's solutions optimize all facets of asset management: risk assessment, portfolio analysis, GIPS compliance, investment reporting, and more. The First Rate Performance Suite™ allows investment firms to calculate accurate rates of return, efficiently analyze the results and generate dynamic, client-ready presentations that empower internal resources to deliver improved client service. For more information about First Rate, visit www.FirstRate.com.
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Source: First Rate