What does FINRA Rule 3110 require?

FINRA Rule 3110 requires each member firm to establish and maintain a supervisory system, including written supervisory procedures covering all business activities. The rule requires designated supervisory personnel, regular review of correspondence and internal communications, and documented evidence that reviews occurred. Firms cannot demonstrate supervision of communications they have not captured.

What does FINRA Rule 2210 require?

FINRA Rule 2210 governs all communications between member firms and the public. It covers retail communications (social media, advertising, websites), correspondence (emails, texts, direct messages), and institutional communications. All must be fair, balanced, and not misleading. Retail communications generally require principal pre-approval before use. Static social media posts about firm business are treated as retail communications; interactive posts are treated as correspondence.

Compliance Resources

The rules.
Plain language.

Q: What does SEC Rule 17a-4 require?

SEC Rule 17a-4 governs how broker-dealers preserve electronic records. Under amendments effective October 2022, firms must store records using either a non-rewriteable, non-erasable (WORM) method or a system that maintains a complete audit trail of any modifications. Records must be indexed, accessible on regulator request, and preserved for the retention period assigned to each record type (typically 3 to 6 years). Firms must also designate either an executive officer or a third party with the authority to produce records directly to the SEC.

Q: What does SEC Rule 17a-3 require?

SEC Rule 17a-3 specifies which records broker-dealers must create and maintain. Covered records include customer correspondence, order tickets, account records, trade confirmations, and communications related to investment recommendations. Retention is governed by Rule 17a-4. Per SEC enforcement guidance, any channel used for covered business communications is in scope, including email, text, and social platforms.

Q: What does SEC Rule 204-2 require?

SEC Rule 204-2 is the primary recordkeeping rule for Registered Investment Advisors. It requires retention of all written communications relating to investment advice, including recommendations, research, client communications, and instructions, for five years from creation, with the first two years easily accessible. The rule applies to communications in any medium, including text messages, LinkedIn, and other digital channels.

Q: What does the SEC Marketing Rule (206(4)-1) require?

Rule 206(4)-1, the Investment Adviser Marketing Rule, governs how investment advisors market their services. It prohibits false or misleading statements, requires substantiation for performance claims, and sets standards for testimonials, endorsements, and third-party ratings. All marketing materials, including social media posts, email campaigns, and digital content, are covered. Records of advertisements must be kept for five years. The compliance date was November 4, 2022.

Every major SEC and FINRA recordkeeping and supervision rule that applies to financial firm communications: who it covers, what it requires, retention periods, and how Archive Intel addresses each one.

Current as of June 2026

This library is for general educational purposes. It is not legal advice. Consult qualified securities counsel for guidance specific to your firm.

SEC

Securities and Exchange Commission Rules

SEC Rule 17a-4

Electronic Records Preservation Requirements

17 CFR § 240.17a-4

Quick Answer Broker-dealers must preserve electronic records in a non-rewriteable, non-erasable format, indexed and accessible to regulators, for the retention period assigned to each record type.

Rule 17a-4 governs how broker-dealers preserve electronic records. Under amendments effective October 2022, firms may store records using either a non-rewriteable, non-erasable (WORM) method or a system that maintains a complete audit trail of any modifications. Records must be indexed, accessible upon regulator request, and preserved for the retention period assigned to each record type. Firms must also designate either an executive officer or a third party with the authority to produce records directly to the SEC.

Retention Period

3 years (most records)
6 years (blotters, ledgers)

Accessibility

First 2 years: easily accessible
Years 3 to 6: accessible on request

Format Options

WORM storage
or audit-trail alternative

Applies to

Broker-Dealers FINRA Member Firms Municipal Securities Dealers

Archive Intel coverage: Captured communications are written to WORM-compliant cloud storage with full audit-trail integrity, and Archive Intel supports the designated-officer or third-party requirement under the amended rule.

Official Rule Text

SEC Rule 17a-3

Records to Be Made by Broker-Dealers

17 CFR § 240.17a-3

Quick Answer Broker-dealers must create records of every customer correspondence, order, trade, account, and recommendation, regardless of the channel used.

Rule 17a-3 specifies which records broker-dealers must create and maintain. It is the companion to Rule 17a-4, which governs how those records are stored and how long they are kept. Covered records include correspondence with customers or prospects relating to business, order tickets, account records, trade confirmations, and communications related to investment recommendations. Per SEC enforcement guidance, any channel used for covered business communications is in scope.

Record Types

Customer correspondence, order records, account records, recommendations

Retention

Governed by 17a-4

Channel Scope

Any channel used for covered business communications

Applies to

Broker-Dealers Registered Representatives

Archive Intel coverage: Captures business communications across the channels listed on the supported-channels page, so every covered channel can be brought into the record.

Official Rule Text

SEC Rule 204-2

Books and Records Requirements for Investment Advisers

17 CFR § 275.204-2

Quick Answer RIAs must keep every written communication about investment advice for at least five years, in any medium, with the first two years easily accessible.

Rule 204-2 is the primary recordkeeping rule for Registered Investment Advisors. It requires retention of all written communications received and sent relating to investment advice, including recommendations, research, client communications, and instructions. The rule covers all mediums. If an advisor uses text messages, LinkedIn, or any app to communicate about investment matters with a client, those communications are records subject to this rule.

Retention Period

5 years from creation
First 2 years: easily accessible

Record Types

All advisory correspondence, recommendations, client instructions

Channel Scope

Any channel used for investment-related client communication

Applies to

Registered Investment Advisors (RIAs) Investment Companies Dually Registered Firms

Archive Intel coverage: Captures advisory communications across supported channels and supports configurable five-year retention policies for RIA compliance.

Official Rule Text

SEC Rule 206(4)-1

Investment Adviser Marketing Rule

17 CFR § 275.206(4)-1

Quick Answer RIAs must keep marketing material truthful, substantiated, and on file for five years, including social media posts, testimonials, and digital content.

The Marketing Rule governs how investment advisors may advertise and market their services. It prohibits false or misleading statements, requires substantiation for performance claims, and establishes standards for testimonials, endorsements, and third-party ratings. All marketing materials, including social media posts, email campaigns, and digital content, must comply. Firms must maintain records of covered advertisements for five years.

Effective Date

November 4, 2022
(compliance required)

Covered Materials

Social media, email, websites, performance records, testimonials

Retention

5 years for all covered advertisements

Applies to

Registered Investment Advisors (RIAs) Investment Companies

Archive Intel coverage: AI Marketing Review identifies potentially noncompliant language before publication and maintains a complete review record for Rule 206(4)-1 compliance.

Official Rule Text

FINRA

Financial Industry Regulatory Authority Rules

FINRA Rule 4511

General Requirements for Books and Records

FINRA Rule 4511

Quick Answer FINRA member firms must capture and preserve every business communication on every channel and device, in a format consistent with SEC Rules 17a-3 and 17a-4.

FINRA Rule 4511 requires member firms to make and preserve books and records in a format consistent with SEC Rules 17a-3 and 17a-4. The rule applies to all business communications by registered representatives, regardless of the channel or device used. Text messages from personal phones, LinkedIn messages, WhatsApp conversations, and any other platform used for business communication all fall under Rule 4511.

Retention Period

Consistent with SEC 17a-4
(3–6 years by record type)

Format Required

WORM-compliant
consistent with SEC 17a-4

Channel Scope

All channels: personal and firm-issued devices

Applies to

FINRA Member Firms Broker-Dealers Registered Representatives

Archive Intel coverage: Captures off-channel communications across personal device text, LinkedIn, and the other channels listed on the supported-channels page.

Official Rule Text

FINRA Rule 3110

Supervision

FINRA Rule 3110

Quick Answer FINRA member firms must supervise communications with documented procedures, designated supervisors, and evidence that reviews actually occurred.

Rule 3110 requires each FINRA member firm to establish and maintain a supervisory system, including written supervisory procedures (WSPs) covering all business activities, including the review of correspondence and internal communications. Firms must designate supervisory personnel, implement review systems, and document that reviews occurred. Archiving is the foundation: a firm cannot demonstrate supervision of communications it has not captured and reviewed.

Key Requirement

Written supervisory procedures (WSPs) covering all communication channels

Review Standard

Regular review of correspondence with customers and internal communications

Documentation

Evidence of review must be maintained

Applies to

FINRA Member Firms Branch Office Managers Designated Supervisors

Archive Intel coverage: Contextual AI evaluates language in context across captured channels, surfacing communications that warrant supervisory attention and producing the documented evidence of review that Rule 3110 requires.

Official Rule Text

FINRA Rule 2210

Communications with the Public

FINRA Rule 2210

Quick Answer Communications with the public must be fair, balanced, and not misleading. Retail communications generally need principal pre-approval before distribution.

Rule 2210 governs all communications between member firms and the public, including retail communications (social media, advertising, websites), correspondence (emails, texts, direct messages), and institutional communications. Communications must be fair, balanced, and not misleading. Retail communications generally require principal pre-approval before use. Social media posts by registered representatives about firm business are retail communications subject to this rule.

Retail Communications

Pre-approval required by registered principal before use

Correspondence

Review and retention required; no prior approval needed

Social Media

Static posts = retail communications; interactive posts = correspondence

Applies to

FINRA Member Firms Registered Representatives Anyone posting on behalf of the firm

Archive Intel coverage: AI Marketing Review provides pre-publication compliance review. Post-publication, supported social channels are captured and retained to satisfy the correspondence and retail communication retention requirements of Rule 2210.

Official Rule Text

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The rules.Plain language.

Securities and Exchange Commission Rules

SEC Rule 17a-4

SEC Rule 17a-3

SEC Rule 204-2

SEC Rule 206(4)-1

Financial Industry Regulatory Authority Rules

FINRA Rule 4511

FINRA Rule 3110

FINRA Rule 2210

Know the rules.Archive everything.

The rules.
Plain language.

Know the rules.
Archive everything.