Recordkeeping and document retention
Recordkeeping and document retention in financial and capital markets is one of the most actively enforced compliance areas in the United States right now. The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have together levied over $2.5 billion in off-channel communications penalties since 2021, with broker-dealers and investment advisers scrambling to retrofit their retention infrastructure to cover platforms like WhatsApp, Signal, and Microsoft Teams. Firms that assumed legacy email archiving programs were sufficient are rebuilding their frameworks from scratch.
Watch
- SEC off-channel communications sweep: next wave of examinations expected to hit mid-size advisers
- CFTC recordkeeping guidance on swap dealer supervision obligations for third-party messaging apps
- 17 CFR Part 257 retention schedules: FERC applicability questions surfacing in dual-registered firms
- EU Digital Operational Resilience Act recordkeeping obligations taking effect January 2025 for MiFID firms
Recent material activity in Financial & Capital Markets
Active monitoring in place across Financial & Capital Markets. Material developments related to recordkeeping and document retention will appear here as they are published.