PURPOSE: This rule prescribes the periods of time for which books and records of broker-dealers must be preserved.

1. (1) Every broker-dealer shall preserve for a period of not less than six (6) years, the first two (2) years in an easily accessible place, all records required to be made pursuant to these rules.

2. (2) Every broker-dealer shall preserve for a period of not less than three (3) years and, for the first two (2) years, in an easily accessible place, the following:

   1. (A) All checkbooks, bank statements, canceled checks and cash reconciliations;
   2. (B) All bills, receivable or payable (or copies of them) paid or unpaid relating to the business of the broker-dealer;
   3. (C) Originals of all communications received and copies of all communications sent by the broker-dealer (including inter-office memoranda and communications) relating to his/her business;
   4. (D) All net capital computations, trial balances, financial statements, branch office reconciliations and internal audit working and Investment Adviser Representatives

papers, relating to the business of the broker-dealer;

1. (E) All guarantees of accounts and all powers of attorney and other evidence of the granting of any discretionary authority given in respect of any account, and copies of resolutions empowering an agent to act on behalf of a corporation; and
2. (F) All written agreements (or copies thereof) entered into by the broker-dealer relating to his/her business, including agreements with respect to any account.

1. (3) Every broker-dealer shall preserve for a period of not less than six (6) years after the closing of any customer’s account, any account cards or records which relate to the terms and conditions with respect to the opening and maintenance of the account.
2. (4) Every broker-dealer shall preserve during the life of the enterprise and of any successor enterprise all partnership articles or, in the case of a corporation, all articles of incorporation or charter, minute books and stock certificate books.
3. (5) After a record or other document has been preserved for two (2) years, a photograph of the record or document on film may be substituted for the balance of the required time.
4. (6) Compliance with the requirements of the Securities and Exchange Commission with respect to preservation of records shall be deemed to be compliance with this rule.

AUTHORITY: sections 409.203 and 409.413(a), RSMo 1986.* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974.

*Original authority: 409.203, RSMo 1967 and 409.413, RSMo 1967.