Series 79: Recordkeeping Requirements (Rule 17a-2)

Taken from our Series 79 Top-off Online Guide

Recordkeeping Requirements (Rule 17a-2)

SEC Rule 17a-2 requires members of a syndicate or group that engages in stabilizing activities to maintain certain records related to those activities. The rules encompass stabilizing bids, syndicate covering transactions, and penalty bids. The syndicate manager is responsible for keeping records of these transactions for at least three years; for the first two years, the records must be kept in an easily accessible place.

The manager must keep the following records:

  • The name and class of the security stabilized, or for which a penalty bid has been imposed or syndicate covering transactions effected
  • The price, date, and time of the stabilizing tra

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