SEC Compliance
The Securities Exchange Commission (SEC) holds primary responsibility for enforcing the federal securities laws and regulating the securities industry. In 2003 the SEC published Rule 17a-4(f), which defines the strict requirements for storage of these electronic records. SEC 17a-4 affects financial services such as broker-dealers and exchange members.
The Rule 17a(f)(iii) states the electronic storage media must:
- Preserve the records exclusively in a non-rewriteable, non-erasable format
- Verify automatically the quality and accuracy of the storage media recording process
- Serialize the original and, if applicable, duplicate units of storage media, and time-date for the required period of retention the information placed on such electronic storage media
- Have the capacity to readily download indexes and records preserved on the electronic storage media to any medium acceptable under this paragraph (f) as required by the Commission or the self-regulatory organizations of which the member, broker, or dealer is a member
Recommended SEC Rule 17a-4 compliance solutions:
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