Regulatory Alerts2022-06-29
Circular on Periodic Compliance Reports by Broker-Dealers and Investment Advisers
The Securities and Exchange Commission directs broker-dealers and investment advisers to submit periodic compliance reports on time by implementing robust IT safeguards, disaster recovery programs, and backup systems. These measures are required to ensure the physical security of software and hardware, protect master files, maintain accurate transaction processing, and prevent computer breakdowns from causing late submissions. Licensees must utilize these stipulated back-up methods to enable prompt transaction settlement and fulfill their reporting obligations as they fall due.
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