Four-Year Minimum Requirement
Broker-dealers must preserve the following records for at least four years. Bank dealers, including those municipal securities dealers that are a subsidiary or division of a bank, must preserve them for three years.
The records include:
- • Subsidiary records
- • Records of put options and repurchase agreements
- • Records of securities in transfer and securities borrowed and received
- • Records of agency orders, executions, and cancellations, including discretionary orders
- • Records of principal transactions, whether for own account or customer account
- • Copies of confirmations and periodic statements
- • Records of personal and financial information for each retail customer account
- • Records of aggregate indebtedness, financial statements, and money balances of all brokerage accounts
- • Business records, including checkbooks, bank statements, wire transfers, bills receivable or payable, written and electronic communications received and sent, all written agreements entered into, and all powers of attorney
- • All fingerprinting records
- • Primary offering records having to do with fulfilling the requirements of Rule G-32, including official statements, delivery o