Viewing entries tagged
finance

SEC Rule 17a-4 Compliance Guide and Checklist

SEC Rule 17a-4 Compliance Guide and Checklist

SEC Rule 17a-4 Compliance Guide And Checklist

The US Securities Exchange Commission, pursuant to its regulatory authority of the under the US Securities Exchange Act of 1934 (outlining data retention and accessibility requirements), issued Rule 17a-4(f) in 1997. The updated regulation requires broker-dealers, who store records and required books in an electronic format, to comply with…

Why You Should Worry About Rule 17a-4

Why You Should Worry About Rule 17a-4

17a-4

Last April we talked about how to comply with Rule 17a-4(f) under the Securities Exchange Act (SEA). But because many firms still aren’t correctly fulfilling the regulation’s requirements, we figured it’s time for an update.

The US Securities Exchange Commission, pursuant to its regulatory authority of the under the US Securities Exchange Act of 1934 (outlining data retention and accessibility requirements), issued Rule 17a-4(f) in 1997 requiring broker-dealers, who store records and required books in an electronic format, to comply with precise regulations. For example, part of the regulation states...

How to Comply with Rule 17a-4

How to Comply with Rule 17a-4

In January, the Financial Industry Regulatory Authority (FINRA) released its 2017 Annual Regulatory and Examination Priorities Letter to inform firms about weaknesses in regulatory programs and ways they can strengthen “compliance, supervisory and risk management controls to protect investors, the markets and themselves.”

One area the letter pointed to was the failure of many firms to comply with Rule 17-a4(f) under the Securities Exchange Act (SEA), which “requires firms to...