This week, the Commission voted unanimously in support of a proposal to update the electronic recordkeeping requirements for intermediaries such as broker-dealers and certain security-based swap dealers. This proposal updates an electronic recordkeeping rule adopted in 1997. A lot has changed with respect to database management, among other technologies, in the last 24 years. This proposal would bring the Commission’s rule in line with technological innovation, and I am pleased to support it.

We have put out this proposal for comment, and I look forward to hearing feedback from the public. Please submit your comments at sec.gov.

I’d like to thank the following SEC staff for their diligent work on this proposal: David Saltiel, Meredith MacVicar, Roni Bergoffen, Michael Macchiaroli, Thomas McGowan, Randall Roy, Ray Lombardo, Joe Levinson, and Tim Fox in the Division of Trading and Markets; Meridith Mitchell, Marie-Louise Huth, Robert Teply, Cynthia Ginsberg, and William Miller in the Office of General Counsel; Jessica Wachter, Oliver Richard, Juan Echeverri, Diana Knyazeva, and Taylor Evenson in the Division of Economic Risk and Analysis; Stacey Bogert in the Division of Enforcement; and Carrie O’Brien and Christine Sibille in the Division of Examinations.