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HomeBankingSEC: Proposes Updates to Electronic Recordkeeping Requirements

SEC: Proposes Updates to Electronic Recordkeeping Requirements

SEC: Proposes Updates to Electronic Recordkeeping Requirements

  • SEC is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation
  • Published proposed amendments to the electronic recordkeeping and prompt production of records requirements
  • This proposal would bring the Commission’s rule in line with technological innovation
  • Broker-dealer electronic recordkeeping rule requires firms to preserve electronic records exclusively in a non-rewriteable
  • The audit-trail alternative is designed to provide broker-dealers with greater flexibility in configuring their electronic recordkeeping
  • The proposed amendments would require nonbank SBSDs and MSBSPs to preserve electronic records
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