Series 53: 6.3.3.3. Four-Year Minimum Requirement

Taken from our Series 53 Online Guide

6.3.3.3. 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 of official state

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