SEC Adopts Amendments to Electronic Recordkeeping Requirements for Broker-Dealers and Security-Based Swap Dealers
- Yoon-Young Lee, Bruce Newman, Eliza Gonzalez
- 11.29.2022
On October 12, 2022, the Securities and Exchange Commission (SEC or Commission) voted to adopt amendments to the electronic recordkeeping requirements for broker-dealers and security-based swap dealers contained in Rules 17a-4 and 18a-6, respectively. The adoption of these amendments is also intended to make SEC recordkeeping requirements more technology neutral than they currently are. The rules also aim to bring the recordkeeping requirements in line with industry practices regarding recordkeeping, which could reduce the need for firms to maintain separate recordkeeping systems for business purposes and regulatory purposes.
