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What are the record retention requirements for the Dodd Frank Legislation? – IBA Compliance Connection

What are the record retention requirements for the Dodd Frank Legislation?

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Provisions of the Dodd-Frank Act relating to registered swap dealers and major swap participants require such entities to retain daily trading records, including electronic e-mails. Dodd-Frank also authorizes the SEC to require all managers of private funds (registered or not registered) to retain general records. More record retention requirements may appear as federal agencies release more regulations under Dodd-Frank. Of course, many record retention requirements already exist (e.g., to retain evidence of compliance with Regulation E and to retain files on credit or insurance solicitations under FCRA).