Series 7: 14.8.5. Three-Year Records

14.8.5. Three-Year Records

Most other records must be retained for three years. They include:

• The three types of public communications discussed in Chapter Eleven (retail communications, institutional communications, and correspondence). These must be kept for three years from the date of last use.

• A memorandum of each brokerage order given or received for the purchase or sale of securities for customer and firm accounts.

• A memorandum of each purchase and sale for the firm’s account. This must show the same information as previous.

• Copies of customer confirmations and copies of notices of all other debits and credits for customer accounts.

• Identification data on beneficial owners of all accounts. This must include the beneficial owners’ names and addresses.

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