
By Oyster Consulting LLC
Subscribe to our original industry insightsWhether it is part of your annual 206(4)-7 testing or a routine on your compliance calendar, making sure your records are in order is a basic requirement. On August 25, 2016, the SEC adopted multiple amendments to Part 1A of Form ADV (“Form ADV”), which include amendments to the books and records rule under the Investment Advisers Act of 1940 that will require advisers to retain:
If records are not required to be maintained, consideration should be given to destroying those records in a secure manner.
Don’t forget about those old laptops and PCs, as they may contain information. While total device destruction is preferred, at a minimum, those hard drives should be securely wiped using NIST SP 800-88 Revision 1 “Guidelines for Media Sanitization.”
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