Record retention obligations require payment service providers to preserve financial, compliance, client, and capital-market records electronically. Payment Service Providers must preserve designated financial, compliance, client and capital-market records in a format suitable for electronic retrieval ... Summary
Record retention obligations require payment service providers to preserve financial, compliance, client, and capital-market records electronically.
Payment Service Providers must preserve designated financial, compliance, client and capital-market records in a format suitable for electronic retrieval for a minimum ten-year period commencing from the date operations begin. Required records include periodic financial statements, auditors' reports, quarterly net-worth statements, anti-money-laundering and know-your-customer compliance material, client account-opening documents, powers of attorney, signature-authority forms, and any further records specified from time to time.
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