As the world turns and the digital age evolves past the need for paper documents, a common question arises from our brokers: Do I have to keep paper records?
AREC regulation 10.7 requires brokers to maintain records for at least three years. Fortunately, Regulation 10.7(b)(3) amends the age-old rule to allow for electronic records. But these electronic records must be maintained and the broker must be capable of producing a copy of them for Commission inspection when requested. So don’t bother filling your file cabinet, but be sure to keep digital copies of all records just in case.