WASHINGTON--(BUSINESS WIRE)--The Financial Industry Regulatory Authority
(FINRA) announced today that it has fined 12 firms a total of $14.4 million
for significant deficiencies relating to the preservation of broker-dealer
and customer records in a format that prevents alteration. FINRA found that
at various times, and in most cases for prolonged periods, the firms failed
to maintain electronic records in “write once, read many,” or WORM, format,
which prevents the alteration or destruction of records stored
electronically.
http://bit.ly/2iJ4VY5http://bit.ly/2iJ4VY5+
--
Peterk
Dallas, Tx
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