• SEC Issues Interpretive Release Regarding Electronic Storage of Broker/Dealer Records
  • June 12, 2003
  • Law Firm: Sutherland Asbill & Brennan LLP - Washington Office
  • The Securities and Exchange Commission ("SEC") has issued an interpretive release (the "Release") regarding electronic record storage pursuant to Rule 17a-4 of the Securities Exchange Act of 1934. The Release clarifies that the SEC will permit broker/dealers to use an electronic storage system that prevents alteration or erasure of records during their required retention period even though the hardware storage medium used by the system is otherwise rewriteable.