Books and Records

"Notwithstanding my concerns, on balance, I support today’s amendments as important updates that provide useful alternatives to WORM for records preservation"

"I view this as an initial step toward a truly principles-based, technologically neutral future where our registrants are free to find the best solutions available ...

"Today’s rule amendments would facilitate the SEC’s ability to examine and inspect records consistent with modern technology. These recordkeeping requirements also may reduce some firms’ ...

"To catch up with rapid technological change, the Commission is modernizing its recordkeeping rules"

Case calls out need to lock down the supervision of employee' business-related text messages, including those involving senior management

The Commission also noted that the lack of preserved records may have hampered their investigations

Firms recommended to proactively think about the intersection between business and technologies

The Commission staff’s investigation uncovered pervasive off-channel communications at all seniority levels at Cantor. The staff requested off-channel communications data from a sampling of more ...

The federal securities laws impose recordkeeping requirements on broker-dealers to ensure that they responsibly discharge their crucial role in our markets. The Commission has long ...

The firm failed to maintain and preserve off-channel communications its employees sent and received related to the broker-dealer’s business, CGMI received and responded to Commission ...