The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) on the modernization of Rule 17a-4 under the Securities Exchange Act of 1934 (Exchange Act).  SIA requests the SEC takes the necessary steps modernize the record retention requirements, particularly Rule 17a-4(b)(4) and 17a-4(f) under the Exchange Act, to meet broker-dealers’ current and future technological needs and demands.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.