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A set of retention rules are created
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titleView Changelog

Date

Change

Oct 2023

Initial Version

By default, there are only two retention rules in the Retention Rules (260) domain. There are several standard rules available that can be enabled or disabled as desired. These standard rules include:

  • Retain 3 years from advisor termination

  • Retain 30 days from event type: Complete

  • Retain 6 years from account close

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All documents have Keep Until Custom EBR Configured enabled.

Tip

Can I Add Custom Rules? Yes. You can create custom rules by working with Docupace’s technical resources. We strongly recommend that you consult your Compliance Department or officer before creating these rules.

Note

Different types of Documents: If different rules need to be applied to different document types, each rule must be defined and run through the EBR Readiness Check with your Compliance Officer. This allows Docupace to determine if any custom attributes or processes need to be added to your system.

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Creating New Retention Rules

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Rw ui steps macro
Rw step

Navigate to Administration>Retention Rules (domain 260).

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Rw step

If permissions for your data role allow, click New Retention Rule.

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Rw step

Enter values in the following fields:

Duration

(In days)

  • Description

  • Commit Delay (In days)

  • Retention Event (select from dropdown)

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    Duration

    The number of days a document will be retained from the time of the Retention Event.

    Description

    The name of the retention rule that will appear when configuring the rules in the retention Matrix.

    Commit Delay

    The number of days the system will delay committing a document to storage when a retention event is triggered.

    Retention Event

    The event in the system that causes the retention rule to be applied to a document.

    Is Locked

    When set to ‘NO’ will not commit the rule to WORM storage and will allow the client (or their Compliance Officer) to change the rules to test how they work. 

    Note

    IMPORTANT NOTE: Once a rule is locked it cannot be unlocked. Once a locked rule is applied to a document via Retention Matrix it cannot be removed.

    Warning

    IMPORTANT NOTE: Any rule that is not locked is not compliant.

    The ability to keep a rule unlocked indefinitely or initially is two-fold:

    1. Compliance Officer or Docupace PS creating rules and testing to make sure they work as expected

    2. Client may wish to create a rule that isn’t a result of a law and wishes to implement.

    Automatically add to shredding Batch when Rule Expires

    When set TRUE, the system will automatically add documents with this rule applied when the rule Duration expires.

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    Audience

    • Compliance Teams

    • Admins