Section 151.50 - What records must I maintain for securities transactions?If you effect securities transactions for customers, you must maintain all of the following records for at least three years:
(a)Chronological records. You must maintain an itemized daily record of each purchase and sale of securities in chronological order, including: (1) The account or customer name for which you effected each transaction;(2) The name and amount of the securities;(3) The unit and aggregate purchase or sale price;(5) The name or other designation of the registered broker-dealer or other person from whom you purchased the securities or to whom you sold the securities.(b)Account records. You must maintain account records for each customer reflecting:(1) Purchases and sales of securities;(2) Receipts and deliveries of securities;(3) Receipts and disbursements of cash; and(4) Other debits and credits pertaining to transactions in securities.(c)Memorandum (order ticket). You must make and keep current a memorandum (order ticket) of each order or any other instruction given or received for the purchase or sale of securities (whether executed or not), including: (1) The account or customer name for which you effected each transaction;(2) Whether the transaction was a market order, limit order, or subject to special instructions;(3) The time the trader received the order;(4) The time the trader placed the order with the registered broker-dealer, or if there was no registered broker-dealer, the time the trader executed or cancelled the order;(5) The price at which the trader executed the order;(6) The name of the registered broker-dealer you used.(d)Record of registered broker-dealers. You must maintain a record of all registered broker-dealers that you selected to effect securities transactions and the amount of commissions that you paid or allocated to each registered broker-dealer during each calendar year.(e)Notices. You must maintain a copy of the written notice required under subpart B of this part.