All broker dealers are required to prepare and maintain reports and records according to industry regulations. The content and timing of the reports depends on the nature of the report. SEC Rules 17 a-3 and 17 a-4 set forth the requirements for broker dealer reporting, timing, content, and retention. Records subject to these rules must be maintained anywhere from three years to the life of the firm.
Under SEC Rule 17a-3 a significant number of records must be filed and maintained by broker dealers. The following is a list of those records and their definitions:
Blotters are records of original entry and must reflect transactions as of the trade date. Blotters must be prepared no later than the following business day, or T + 1. This would include a historical account of all the daily transactions, such as: Read more