SEC Gives Brokers More Flexibility on Electronic Recordkeeping

Brokers and swaps dealers are getting new recordkeeping options after the Securities and Exchange Commission voted Wednesday to update rules to make it easier to audit electronic records.

The final rule, approved unanimously, will make it less difficult for companies to upgrade systems and provide more flexibility in requiring a third party to produce the electronic records for the SEC even if a broker or swaps trader isn’t able to do so. It makes other tweaks meant to reflect technology changes. What’s included:

• Firms must be able to reproduce an original record even if it’s edited or deleted.
• Requirements are ...