Question

If a broker/dealer decides to store records electronically, which of the following criteria must be met?

I. The records must be stored in a manner which allows the broker/dealer to produce them upon request in a prompt manner.
II. Publication of such electronic records must take place at least on an annual basis.
III. Duplicate copies of the records must be maintained at two separate locations.
IV. Records must be stored in a format which does not allow the modification of files.

Answer 1

I, III, and IV

Step-by-step explanation:

There are certain criteria that must be met for a broker/dealer to begin to store records electronically. One of these criteria is to ensure there are duplicate copies of all records to ensure they are available. Secondly, The record must be converted and stored in a format that its content cannot be modified. Thirdly, the file must be stored in a way that it is easy accessible upon request.