Exam Alert: SEC approves consolidated FINRA rules on books and records

The SEC has approved a new set of FINRA Rules governing books and records. These rules will be effective December 5, 2011. The rules state that records Continue reading

The SEC has approved a new set of FINRA Rules governing books and records.  These rules will be effective December 5, 2011.  The rules state that records for which no retention period is given under FINRA or Securities Exchange Act rules must be kept for six years.  Firms must now record the name of the agent(s), if any, responsible for an account.  Relevant to the Series 6, 7, 62, 24 and 26. Additional changes can be found here: http://www.finra.org/Industry/Regulation/Notices/2011/P123549.

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