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FINRA Rule 4511

This rule requires all FINRA members to make and preserve books and records as required under FINRA rules, the Securities Exchange Act of 1934, and applicable Exchange Act rules.

Rule Overview

Jurisdiction: United States

Regulator: FINRA

Topic: Recordkeeping

Overview
Notable
Latest News
Further Reading

The rule requires firms to preserve:

  • for a period of six years those FINRA books and records for which there is no specified retention period under FINRA or applicable Exchange Act rules; and
  • books and records in an SEC 17a-4 compliant format and media.
Notable
Recordkeeping fines and actions

Recordkeeping fines and actions

A list of the institutions fined for recordkeeping failures involving at least some combination of texts, WhatsApp messages, and audio files, if not other communications formats, since September 2020.

GRIP4 min read

16 firms agree to settle charges for off-channel comms recordkeeping lapses

16 firms agree to settle charges for off-channel comms recordkeeping lapses

More fines have been issued by the SEC for failure to preserve electronic communications.

Julie DiMauro3 min read

Eleven firms fined $711m for "evasive communications" practices

Eleven firms fined $711m for "evasive communications" practices

The CFTC has fined 11 Wall Street firms $711m for recordkeeping failures. Violations “well known” within firms.

Thomas Hyrkiel1 min read

Compliance

Recordkeeping fines and actions

Enforcement

16 firms agree to settle charges for off-channel comms recordkeeping lapses

Enforcement

Eleven firms fined $711m for "evasive communications" practices

Latest News More on FINRA Rule 4511 

Further Reading

SEC JP Morgan $125 million penalty press release Go to https://www.sec.gov/news/press-release/2021-262 SEC Interpretive rule electronic storage of broker-dealer records Go to https://www.sec.gov/rules/2003/05/electronic-storage-broker-dealer-records ECFR Title 17 Section 240.17a-4 Go to https://www.ecfr.gov/current/title-17/chapter-II/part-240/subpart-A/subject-group-ECFR9a3b1ee5e7a78f3/section-240.17a-4