Ethics Record retention

CFA Level III
#1

Hey guys, how long does the CFAI want you to keep back records? There’s a sample question (chapter 2 around number 60) where they kept 5 years and it was ok, but what is the minimum?

#2

7 years!

#3

7 is recommend not required , I do not think it is violation if only keep 3 years.

#4

Local regulators often impose requirements on members, candidates, and their firms related to record retention that must be followed. Fulfilling such regulatory requirements also may satisfy the requirements of Standard V©, but members and candidates should explicitly determine whether it does. In the absence of regulatory guidance, CFA Institute recommends maintaining records for at least seven years.

#5

anyone remember of the top of their heads what the GIPS requirement is for record retention?

#6

sk22 Wrote: ------------------------------------------------------- > anyone remember of the top of their heads what the > GIPS requirement is for record retention? 6 years.

#7

Asset Manager Code is 7 years

#8

6years is in AMC , and it is a errorta , should be 7years

#9

goodman2011 Wrote: ------------------------------------------------------- > 6years is in AMC , and it is a errorta , should be > 7years AMC is 7 I have only read the actual. GIPS said recommended 6 in actual book, changed to 7?

#10

Can we get confirmation: Asset manager record retention should be 7 not 6 years???

#11

it is SEVEN years in the AMC per the errata http://www.cfainstitute.org/Eratta/2011_level_III_errata_as_of_22APRIL.pdf

#12

goodman2011 Wrote: ------------------------------------------------------- > 7 is recommend not required , I do not think it is > violation if only keep 3 years. This is good to keep in mind. Recommended time is seven years.

#13

So CFA ethics recommends 7years which also coincides with the mandated 7years required to claim GIPS compliance. Makes sense! cheers for clearing that all up!

#14

So is GIPS 6 years or 7???

#15

all are 7 years.

#16

deriv108 Wrote: ------------------------------------------------------- > all are 7 years. So is there any justification for the “7”…some CFA charter holders or lawers sitting upstairs and just pull that number out of their $%^ and decided 7 is it? or like the movie Seven about deadly sins? why not 8? how about 7 and half?

#17

Individuals = 7 years Firms = 6 years 100% sure.