Series 26: FinCEN Records And Reports

FinCEN Records and Reports

Every registered broker-dealer that is subject to the requirements of the Bank Secrecy Act must comply with the reporting, recordkeeping, and record retention requirements of the Financial Crimes Enforcement Network (FinCEN) regulations. The general rule is that any records having to do with anti-money laundering or terrorism must be kept for five years.

A mutual fund reporting suspicious activities, for example, must maintain a copy of any Form SAR-SF filed by or for the fund and the original of any supporting doc