Final Rule Amendments to Books and Records Requirements for Brokers and Dealers Under the Securities Exchange Act of 1934
FOR IMMEDIATE RELEASE
Washington, DC, October 25, 2001 The Securities and Exchange Commission today adopted final rule amendments to the broker-dealer books and records rules (Rule 17a-3 and Rule 17a-4) under the Securities Exchange Act of 1934. The amendments clarify and expand recordkeeping requirements including those for purchase and sale documents, customer records, associated person records, customer complaints, communications with the public, and supervisory procedures. In addition, the amendments require broker-dealers to maintain or promptly produce certain records at each office to which those records relate. These amendments are specifically designed to assist securities regulators when conducting sales practice examinations of broker-dealers, particularly examinations of local offices.
The amended rules contain the following general provisions, among others:
The final rules will become effective 18 months after the date of publication in the Federal Register.
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