Preservation and Electronic Storage
Chapters in this video
- 0:00 The 6-year, 3-year, and 2-year accessibility rule
- 1:39 Six years post-closing for customer account records
- 2:56 Enterprise life and successor enterprise for organizational docs
- 3:14 Ceasing securities business does not end preservation
- 3:32 Audit-trail method versus non-rewriteable non-erasable method
- 4:25 Automatic verification, redundancy, and regulatory production
- 5:09 Rapid-fire exam recap
What this video covers
- Matching blotters, ledgers, and securities position records to their 6-year minimum preservation period, and which records drop to 3 years
- Applying the first-2-years accessibility rule to transaction records and why it matters for exam scenarios
- Calculating the 6-year post-closing retention clock for customer account opening and maintenance records, starting from account closure not account opening
- Identifying organizational documents and broker-dealer registration records that must be preserved for the life of the enterprise and any successor enterprise
- Why ceasing securities business does not terminate preservation duties, and how the retention principle continues the clock
- The two permitted electronic methods: the time-stamped audit-trail method versus the non-rewriteable, non-erasable method
- What automatic verification, access redundancy, and regulatory production mean when a Securities and Exchange Commission representative requests a legible, true, complete, and current copy
Read the full lesson, free
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