Electronic Records

Q: I’m the broker of a small brokerage firm. We’ve been in business for a number of years and I’m running out of space to maintain the required business records in my office. I would like to hire a company to scan them onto a computer disk. Must I also maintain the original records? 

A: No. Legible copies or electronic versions of the records are sufficient. As an alternative, you may also maintain the required business records outside the office. However, they must be made readily available to FREC if you are audited.