FINRA Document Retention Requirements


In this article, we will provide basic information about FINRA Document Retention Requirements. But before we get into that, we should give some general information about FINRA. FINRA stands for the Financial Industry Regulatory Authority.  Fair market conditions are the most important thing for investors in the USA, as in the rest of the world. FINRA is an important part of financial conditions in America. Because this authority is a government-authorized not-for-profit organization that oversees U.S. broker-dealers. FINRA’s primary goal is to make sure that anybody can take part in the market with confidence. FINRA is authorized by Congress to protect investors in America.

Finra oversees over 624,000 brokers across the country and also analyze billions of market transactions every day. This is really a big role!

What is FINRA Compliance Tool Disclaimer?

This tool is optional. Its purpose is to help member companies. If you’ve decided to use the tool, there are some things you should know about it. The first thing you need to do to use this tool is to adapt the tool according to your and your company’s information. The second thing you should know about this tool is that this tool does not guarantee or constitute a guarantee for compliance with FINRA rules, federal securities laws or state laws or other applicable federal or state regulatory requirements.  The tool was last updated in January 2022. This information may not cover the next update after this post. Therefore, it is the reader’s responsibility to check whether the tool is up to date.

FINRA regularly checks and updates these tools. Because laws can change over time. Tools must be compatible with these changes. Because member companies should be aware of the changes.

Books and Records Requirements Checklist for Broker-Dealers

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The checklist we have shared under this heading contains summaries of some of the books and records that brokerage houses are required to establish and keep in accordance with Rules 17a-3 and 17a-4 under the Securities and Exchange Act of 1934 (“SEA”). This document has 29 pages.

We hope we were able to inform you about the FINRA Document Retention Requirements.

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