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Finra Exam SIE Topic 2 Question 6 Discussion

Actual exam question for Finra's SIE exam
Question #: 6
Topic #: 2
[All SIE Questions]

Which of the following responses best describes how member firms are required to retain electronic correspondence and internal communications of associated persons?

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Suggested Answer: D

FINRA Rule 4511 requires member firms to retain records, including electronic communications, in a non-rewriteable, non-erasable format (often referred to as WORM: Write Once, Read Many). This ensures that records cannot be altered or deleted once stored.

D is correct because firms must store records in a tamper-proof format.

A, B, and C are incorrect because these formats do not guarantee compliance with the tamper-proof requirements set forth by FINRA and the SEC.


by Ilene at Feb 06, 2025, 08:59 PM

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Fausto
2 days ago
I'm not sure, but I think it could also be B) On the firm's server, as that would make it easily accessible for compliance checks.
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Leigha
8 days ago
I agree with Fairy, it makes sense to retain electronic correspondence in a non-rewriteable format for security and compliance purposes.
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Douglass
8 days ago
Definitely B. Storing on the firm's server makes the most sense for accessibility and security.
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Leatha
9 days ago
I think option D is the correct answer. Non-rewriteable format ensures the integrity of the communications.
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Fairy
14 days ago
I think the answer is D) In a non-rewriteable format.
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