UPDATE: NY Authorities Scrutinize Legality of Symphony's Data Deletion Claims

The New York regulator is concerned that the vendor will make it hard to obtain communications records.

delete-button
The NY DFS is concerned that unscruplous traders will be able to delete evidence of wrongdoing.

Symphony, which is financially backed by 14 major financial firms led by Goldman Sachs, received a letter from the DFS on Wednesday, asking the vendor to provide details about data retention and deletion, encryption services and open-source features.

According to the letter from acting DFS superintendent Anthony Albanese, Symphony uses the term "Guaranteed Data Deletion" and states that data is "100 percent protected by encryption keys" in its marketing collateral.

However, under New York state

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: