books-and-records
Books and Records
Purpose
Guide the design, implementation, and maintenance of recordkeeping programs for broker-dealers and investment advisers under federal securities laws. This skill covers the creation, retention, and storage of required records under SEC Rules 17a-3, 17a-4, and 204-2, FINRA recordkeeping obligations, electronic storage standards including WORM (Write Once, Read Many) requirements, and the archiving of electronic communications and social media. It enables users to build compliant document retention systems and respond to regulatory examinations of books and records.
Layer
9 — Compliance & Regulatory Guidance
Direction
prospective
When to Use
- Designing a document retention policy or schedule for a broker-dealer or investment adviser
- Determining what records must be created under SEC Rule 17a-3
- Determining how long specific records must be retained under SEC Rule 17a-4
- Establishing recordkeeping systems for an investment adviser under Rule 204-2
- Evaluating electronic storage solutions for compliance with WORM or audit trail requirements
- Implementing email, instant messaging, or text message archiving systems
- Addressing social media archiving and supervision challenges
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