SEC issues new guidance on broker-dealer recordkeeping

Rule changes seek to reflect technological development.

Amendments to broker-dealers’ recordkeeping requirements designed to modernize the process in the light of technological change have been issued by the SEC. The amendments will also facilitate examinations of broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs).

Market integrity

SEC chair Gary Gensler said: “Since the 1930s,

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