(a) General rule. A national bank effecting securities transactions for customers shall maintain the following records for at least three years:

1. (1) Chronological records. An itemized daily record of each purchase and sale of securities maintained in chronological order, and including:

   1. (i) Account or customer name for which each transaction was effected;
   2. (ii) Description of the securities;
   3. (iii) Unit and aggregate purchase or sale price;
   4. (iv) Trade date; and
   5. (v) Name or other designation of the broker/dealer or other person from whom the securities were purchased or to whom the securities were sold;

2. (2) Account records. Account records for each customer, reflecting:

   1. (i) Purchases and sales of securities;
   2. (ii) Receipts and deliveries of securities;
   3. (iii) Receipts and disbursements of cash; and
   4. (iv) Other debits and credits pertaining to transactions in securities;

3. (3) Memorandum order. A separate memorandum (order ticket) of each order to purchase or sell securities (whether executed or canceled), including:

   1. (i) Account or customer name for which the transaction was effected;
   2. (ii) Type of order (market order, limit order, or subject to special instructions);
   3. (iii) Time the trader or other bank employee responsible for effecting the transaction received the order;
   4. (iv) Time the trader placed the order with the broker/dealer, or if there was no broker/dealer, time the order was executed or canceled;
   5. (v) Price at which the order was executed; and
   6. (vi) Name of the broker/dealer utilized;
4. (4) Record of broker/dealers. A record of all broker/dealers selected by the bank to effect securities transactions and the amount of commissions paid or allocated to each broker during the calendar year; and
5. (5) Notifications. A copy of the written notification required by §§ 12.4 and 12.5.