How long must a US broker dealer keep electronic records?
For the period set for each record type under the books and records rules, with the first two years in an easily accessible place, and stored either in a non-rewriteable format or under the audit trail alternative introduced in the 2022 amendments.
The answer differs between the federal level and the states, see the rows below.
The answer by level
Federal level
Broker dealers preserve records electronically either in a non-rewriteable format or under an audit trail alternative, with a designated executive officer and an undertaking from a third party able to access the records.
17 CFR § 240.17a-4Sector rule
The general books and records rule requires preservation for the period specified for each record type, with the first two years in an easily accessible place.
FINRA Rule 4511, General RequirementsEnforcement
The register entry covers the amended electronic recordkeeping requirements and the supervision rules that are examined together with them.
17 CFR § 240.17a-4, FINRA Rules 3110 and 4511
Source lines
- The amended rule allows an audit trail alternative alongside the traditional write once format.
- The firm designates an executive officer with access to the records and secures an undertaking from a third party able to provide them to the regulator.
- The supervision rules require the firm to retain communications and to evidence review of them.
What it means for the company
Enforcement in this area has centred on off channel communications. The retention obligation follows the business record, not the device or the application it was created on.
| Level | Requirement | Source |
|---|---|---|
| Federal level | Broker dealers preserve records electronically either in a non-rewriteable format or under an audit trail alternative, with a designated executive officer and an undertaking from a third party able to access the records. | 17 CFR § 240.17a-4 |
| Sector rule | The general books and records rule requires preservation for the period specified for each record type, with the first two years in an easily accessible place. | FINRA Rule 4511, General Requirements |
| Enforcement | The register entry covers the amended electronic recordkeeping requirements and the supervision rules that are examined together with them. | 17 CFR § 240.17a-4, FINRA Rules 3110 and 4511 |
What it means for the individual
Registered representatives carry personal exposure where firm records are incomplete because business was conducted on private messaging.
Source lines
- SEC Rule 17a-4 and the FINRA supervision rules17 CFR § 240.17a-4, FINRA Rules 3110 and 4511 · read 2026-08-25 · proof 7346e9d1348b730b
- Electronic Code of Federal Regulations17 CFR § 240.17a-4 · read 2026-08-25 · proof 7346e9d1348b730bOfficial source
- Financial Industry Regulatory AuthorityFINRA Rule 4511, General Requirements · read 2026-08-25 · proof 7346e9d1348b730bOfficial source
Next step
List every channel where business communications occur, and confirm each one is captured under the retention format the firm has elected.
This page reports what the sources say, with the identifier and address of the publisher. It is not legal advice and does not decide an individual matter.
Next step
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