Retention of the Subscription Agreement
Chapters in this video
- 0:00 The phantom document: no rule defines it
- 1:33 How the subscription agreement enters the firm's hands
- 2:11 Creation rule versus preservation rule: the exam trap
- 3:00 Why the written-agreements category bounces it
- 4:15 The real retention timeline: three years total, two easily accessible
- 5:10 Rapid-fire exam recap
What this video covers
- Why no rule defines the subscription agreement or creates a dedicated retention category for it, and how to spot that distractor on test day
- How the order-ticket exception in the records-creation rule allows a document swap: subscription agreement in place of the order memorandum
- Why the records-preservation rule, not the creation rule, sets the three-year timeline with the first two years easily accessible
- The exact three-year, creation-dated retention period and the two-year easily-accessible requirement that the subscription agreement inherits from the order-memorandum category
- Why the written-agreements category is the wrong route: the firm is not a party to a contract between the investor and the issuer
- How to survive complex scenario questions by tracing the source rule rather than matching surface-level retention periods
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 82 course also includes adaptive practice questions and spaced-repetition flashcards, available in Free Beta.