At Smarsh, your data is YOUR data

The Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 18-31 on Sept. 14, highlighting recent guidance from the Securities and Exchange Commission (SEC) regarding the use of third-party recordkeeping services (like Smarsh), and broker-dealers’ recordkeeping obligations under Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-4 thereunder.

Of specific concern are broker-dealers entering into contracts with third-party recordkeeping vendors that permit a service provider to delete a broker-dealer’s records for non-payment of fees, or under certain other circumstances.

Smarsh will not threaten to delete or take action to delete client data for non-payment of fees.

Smarsh will not delete or threaten to delete client data for non-payment, and our agreements with our clients do not contain any such provisions. The SEC “emphasized that the records of a broker-dealer must be available at all times for examination in order to assure the protection of customers,” and adherence to this policy has always been critical to the service that Smarsh provides.

As simple as it sounds, YOUR data is YOUR data. You can access and download your data on-demand or the Smarsh team can do it for you, just let us know if we can assist.

For a copy of our Smarsh Services Agreement, https://www.smarsh.com/legal/ServiceAgreement

The Service Descriptions and Service Specific Terms are located at, https://www.smarsh.com/legal/