Communications Recordkeeping

What this video covers

• The SEC books-and-records content rule versus the FINRA communications framework, and why dates of first and last use belong only to FINRA
• The 3-year retention standard for all communications sent and received, with the first 2 years easily accessible, and how that differs from the 6-year customer account record retention
• Why inter-office communications are included in retention only when they relate to the firm's business, not personal emails between associated persons
• The category-specific FINRA recordkeeping for retail communications, correspondence, and institutional communications, including the principal approver versus reviewer distinction
• Why correspondence review logs must document actions taken, not just the reviewer name and date, and what happens when a principal signs off without noting corrective steps
• What easily accessible means for electronic storage, on-premises archives, or service bureaus, and why it is a production time standard not a specific media requirement
• Securities Investor Protection Act (SIPA) restrictions on non-Securities Investor Protection Corporation (SIPC) firms using the SIPC name, logo, or implying comparable protection