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 rec