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FINRA Rule 3170

Also referred to as the "Taping Rule". Requires certain firms to install taping systems to record all telephone conversations between their registered persons and existing and potential customers and also to review those recordings and file reports with FINRA.

Rule Overview

Jurisdiction: United States

Regulator: FINRA

Topic: Recordkeeping

Overview
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Further Reading

The Taping Rule is applies only to member firms with a significant number of registered persons that previously worked for firms that have been expelled from FINRA membership or have had their registrations revoked for inappropriate sales practices.

Firms that become subject to these requirements are called “taping firms.”

Taping firms must establish, enforce and maintain special written supervisory procedures, tape record conversations for a period of three years, at a minimum, and review those recordings for compliance purposes.

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Further Reading

FINRA Reg Notice Go to https://www.finra.org/rules-guidance/notices/14-10