Regulatory FrameworkQuestion 385 of 398
Under general recordkeeping rules of the Securities Exchange Act of 1934, certain fundamental broker-dealer records, such as blotters and ledgers, must generally be retained for a minimum of:
a.1 year
b.2 years
c.3 years
d.6 years
Explanation
SEC Rules 17a-3 and 17a-4 set recordkeeping and retention requirements for broker-dealers. Certain core records such as blotters, general ledgers, and customer account records must generally be retained for at least six years, with the first two years in an easily accessible place. Other records have shorter retention periods, such as three years.
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