Get SEC 1410 (X-17A-5) Part3 2002-2023

As adopted, Rule 17a-3(a)(17)(i)(C) does not require broker-dealers to include an explanation of the customer's neglect, refusal, or inability to provide the required information. However, a broker-dealer is required to make a good faith effort to collect this information.

17a-4(a) Every member, broker or dealer subject to § 240.17a-3 must preserve for a period of not less than 6 years, the first two years in an easily accessible place, all records required to be made pursuant to § 240.17a-3(a)(1) through (3), (5), and (21) and (22), and analogous records created pursuant to § 240.17a-3( ...

The SEC books and records rules applicable to broker-dealers, SEA Rules 17a-3 and 17a-4, specify minimum requirements with respect to the records that broker-dealers must make, how long those records and other documents relating to a broker-dealer's business must be kept and in what format they may be kept.

Securities and Exchange Commission (SEC) Rule 15c3-3 requires brokerage firms to maintain secure accounts. Also known as the Customer Protection Rule, SEC Rule 15c3-3 is part of the Code of Federal Regulations. It ensures that brokerage clients can withdraw assets at any time, and a brokerage has to work to uphold it.

SEC Form X-17A-5 is a financial reporting form that all broker-dealers who are registered with the U.S. Securities and Exchange Commission (SEC) must complete. This form consists of three parts and contains an annual audit that must be performed by a certified public accountant (CPA).

Section 17(a) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 17a-8 thereunder requires every registered broker-dealer subject to the Bank Secrecy Act (BSA) to comply with the recordkeeping requirements set forth by the US Treasury's Financial Crimes Enforcement Network (FinCEN).

17a-13(d) The examination, count, verification, and comparison shall be made or supervised by persons whose regular duties do not require them to have direct responsibility for the proper care and protection of the securities or the making or preservation of the subject records.

Compliance Requirements for Archiving Electronic Records Rule 17a-3 (and Rule 17a-4) states that firms must: Ensure the retention and preservation of all transactions and official business records - including all communications. Store these electronic records in a secure, non-erasable location.