Section 26-B184. PRESERVATION AND MAINTENANCE OF INVESTMENT ADVISER RECORDS

 

184.1The records required to be maintained and preserved pursuant to § 181 may be immediately produced or reproduced by photographic film or, as provided in § 184.2 on magnetic disk, tape or other computer storage medium, and be maintained and preserved for the required time in that form. If the records are produced or reproduced by photographic film or computer storage medium, the investment advisor shall:

 

(a)Arrange the records and index the films or computer storage medium so as to permit the immediate location of any particular record;

 

(b)Be ready at all times to provide, and promptly provide, any facsimile enlargement of film or computer printout or copy of the computer storage medium that the Department may request;

 

(c)Store separately from the original, a copy of the film or computer storage medium for the time required;

 

(d)With respect to records stored on computer storage medium, maintain procedures for maintenance and preservation of, and access to, records so as to reasonably safeguard records from loss, alteration, or destruction; and

 

(e)With respect to records stored on photographic film, at all times have available for examination of its records pursuant to the Act facilities for immediate, easily readable projection of the film and for producing easily readable facsimile enlargements.

 

184.2Pursuant to subsection 184.1, an adviser may maintain and preserve on computer tape or disk or other computer storage medium records which, in the ordinary course of the adviser's business, are created by the adviser on electronic media or are received by the adviser solely on electronic media or by electronic data transmission.

 

184.3Any book or other record made, kept, maintained, and preserved in compliance with Rule 17a-3 under the Securities Exchange Act of 1934, which is substantially the same as the book or other record required to be made, kept, maintained and preserved under this regulation shall be deemed to be made, kept, maintained and preserved in compliance with this section.

 

184.4A record made and kept pursuant to any provision of §§ 181.1 through 181.5 which contains all the information required under any other provision of § 180 need not be maintained in duplicate in order to meet the requirement of the other provisions of § 181.

 

source

Final Rulemaking published at 40 DCR 6732 (September 24, 1993); as amended by Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 4106 (May 11, 2001).