SEC Adopts Rule Amendments to Modernize How Broker-Dealers Preserve Electronic Records

Facing New Technologies

Date:

Autor: Funds Society, Miami

The amendments are designed to modernize recordkeeping requirements given technological changes over the last two decades and to make the rule adaptable to new technologies in electronic recordkeeping

The SEC’s broker-dealer electronic recordkeeping rule currently requires firms to preserve electronic records exclusively in a non-rewriteable, non-erasable format, known as the write once, read many format