Você está atendendo aos requisitos de retenção de registros da SEC?

Your financial services organization has obligations to keep business records a certain way for a specific length of time. That’s because the Financial Industry Regulatory Authority (FINRA) and U.S. Securities and Exchange Commission (SEC) require it. But knowing these regulations is only the first hurdle. The second is effectively implementing them. Does your document management service make this process easy?

Quem deve seguir as regras da SEC?

You’re likely well aware of whether FINRA or SEC rules apply to your business. But as a refresher, 17 CFR §240.17a-4 applies to:

• Membros de uma bolsa de valores nacional que realizam negócios com valores mobiliários diretamente com terceiros que não sejam membros de uma bolsa de valores nacional
• Corretores ou distribuidores que realizam negócios com valores mobiliários por meio de um membro de uma bolsa de valores nacional
• Corretores ou negociantes, incluindo um negociante de derivados OTC
• Negociantes de swap com base em segurança que também são corretores ou negociantes e
• Principais participantes de troca com base em segurança que também são corretores ou revendedores

Quais registros você deve reter?

Os requisitos de retenção de registros se aplicam aos registros descritos em 17 CFR § 240.17 a- 3, que incluem, mas não estão limitados a:

• Mata-borrões
• Ativos e passivos, receitas e outros livros
• Registros de títulos
• Memorando de ordens de corretagem
• Memorando de compra ou venda de um título
• Puts, calls, spreads, straddles e outras opções
• Money balances, confirmations, notices, and canceled checks
• Informações do perfil da conta do cliente
• Employment applications and records
• Email communications, website copy, and social media posts
• Marketing advertisements, audio, and visual materials

If you’re in doubt about whether to retain a particular document, consider whether the record relates to your core business functions or to any of the services you provide your clients or customers. If it does, keep it until you are certain. You risk facing compliance issues for failing to retain relevant records. There are no penalties for keeping superfluous ones, but that being said, you don’t want to keep everything forever. That strategy could lead to redundant, outdated, and trivial data and discovery challenges in the future, in addition to violating certain data privacy laws that apply to storing information beyond necessity.

Cronogramas para retenção de registros SEC

You’ll find how long you have to keep particular records in 17 CFR §240.17a-4. The rule is detailed, and you — or, more likely your compliance officer — should work through it carefully.

You have to keep records identified in §240.17a-3(a)(1) through (3), (5), (21), and (22) for at least six years. These include blotters, asset and liability ledgers, securities records or ledgers, a record of people who can explain the records the company keeps, and a record of each professional responsible for establishing regulatory compliance policies and procedures at the organization.

There’s a three-year requirement for other records, including but not limited to:

• Registros relacionados a § 240.17 a- 3 (a) (4), (6) a (11), (16), (18) a (20) , e (25) a (31)
• Talões de cheques, extratos bancários, cheques cancelados, reconciliações de dinheiro
• Contas a receber e a pagar
• Comunicações Empresariais
• Balancetes, cálculos de endividamento agregado e capital líquido, demonstrações financeiras, reconciliações de filiais e papéis de trabalho de auditoria interna
• Garantias de contas e procurações
• Acordos de negócios escritos
• Documentos relacionados a valores mobiliários; e
• Avisos relacionados a um sistema interno de corretor-negociante

Todos os registros armazenados devem estar facilmente acessíveis durante os primeiros dois anos, quer você tenha que mantê-los por pelo menos três ou seis anos.

De acordo com § 240.17 a- 4 (c), você também deve manter quaisquer cartões de conta ou registros relacionados aos termos e condições de abertura ou manutenção de uma conta por seis anos após o encerramento da conta de um cliente.

Most SEC record retention requirements are three or six years. However, an organization can find itself in trouble maintaining certain records for three years instead of six if there’s a misunderstanding or human error in its information governance program.

Mais requisitos de retenção de registros

The SEC requires records to be kept immutable, which means no one can alter, delete, or shorten the life of the file.

Another requirement is to store duplicates of the original records in a separate location. That way, if something happens to one facility or piece of equipment, you have a reliable backup and haven’t lost anything.

Additionally, authorized users have to be able to find records quickly. This requirement means you must properly index all documents and provide users with a secure and efficient search function.

And finally, you have to assign someone as a designated third party (D3P) for independent access to your records. Your D3P is an entity that has secure access and the capabilities to retrieve the records for a regulatory audit or by court order without your cooperation.

NetDocuments facilita a conformidade com a SEC

Financial services organizations turn to NetDocuments, a leading cloud document and email management service provider because our solutions provide specific functions and features that can be used by companies to comply with FINRA and SEC record retention requirements, such as:

• Períodos de retenção personalizáveis
• Repositórios Write Once, Read Many (WORM)
• Múltiplas camadas de criptografia
• Um recurso robusto de pesquisa de documentos com direitos de acesso personalizáveis
• Duplicação de dados em três centros de dados geograficamente separados e altamente seguros e
• Capacidade D3P do NetDocuments

Are you considering a reliable partnership with a FINRA-focused DMS provider?

Check out our whitepaper to see how NetDocuments delivers a top preferred SaaS cloud solution for Financial Services organizations.

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