SEC Rules 17a-3 and 17a-4 and NASD Rule 3110 mandate which records must be maintained by broker/dealers and for how long. The consultants at BDCA have many years of experience in the brokerage industry and can help you determine the most efficient way to comply with the provisions of the NASD and SEC books and records rules.
Electronic recordkeeping is becoming more and more common and is permitted by the regulators as long as certain criteria are met. BDCA can review your firm’s electronic recordkeeping practices to determine whether you are complying with all of the regulatory books and records requirements.
BDCA can also help your firm design and implement a document retention policy that will help manage the overwhelming amount of records that can be accumulated over the years. At some point, it is a good practice to properly dispose of records that the firm is no longer required to preserve. BDCA can help you establish a schedule and a method for the proper disposal of records that no longer are required to be preserved.