Recordkeeping obligations require stock brokers to maintain specified books, notify the regulator, and furnish audited accounts. Regulation 17 requires stock brokers to maintain specified books and records-transaction registers, ledgers, journals, cash and bank books, documents register for securities, contract books, contract note counterfoils, client consents, margin deposit book and client account opening forms-and for Execution Only Platforms to keep records as the Board specifies. Brokers must notify the Board of record location and, if required, furnish audited financial statements within six months or notify delays. Additional recordkeeping, agreement and conduct requirements apply where brokers act as underwriters, including specified agreement terms and limits on benefits from underwriting.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Recordkeeping obligations require stock brokers to maintain specified books, notify the regulator, and furnish audited accounts.
Regulation 17 requires stock brokers to maintain specified books and records-transaction registers, ledgers, journals, cash and bank books, documents register for securities, contract books, contract note counterfoils, client consents, margin deposit book and client account opening forms-and for Execution Only Platforms to keep records as the Board specifies. Brokers must notify the Board of record location and, if required, furnish audited financial statements within six months or notify delays. Additional recordkeeping, agreement and conduct requirements apply where brokers act as underwriters, including specified agreement terms and limits on benefits from underwriting.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
