Final answer:
Firms using micrographic or electronic storage media for records must provide a facility for the SEC and SROs to review these files, ensuring compliance with record-keeping regulations.
Step-by-step explanation:
A firm that uses micrographic or electronic storage media is indeed required to have a facility where the Securities and Exchange Commission (SEC) and its Self-Regulatory Organizations (SRO) can review stored files. This requirement is in place to ensure that records are readily available for examination and that the firm complies with laws and regulations concerning record-keeping.
The SEC has rules specifying how long such records must be kept, in what format, and how firms must make them available for inspection. The accessibility of these records is crucial for regulatory oversight, preventing fraud, and maintaining the integrity of financial markets.