What Is Books and Records?
Required documentation and files an adviser must maintain—including client agreements, performance records, communications, and financial statements—for examination and audit purposes. Records must be preserved for specified periods and be readily available to regulators.
Books and Records across 2 exams
Books and Records appears on the following exams. Each defines it in the context candidates are tested on:
- Series 65
- Required documentation and files an adviser must maintain—including client agreements, performance records, communications, and financial statements—for examination and audit purposes. Records must be preserved for specified periods and be readily available to regulators.
- Series 99
- The account, transaction, and financial documentation that broker-dealers are required to create and retain under SEC and FINRA rules. Accurate recordkeeping is central to the operations function.