Sec
Under SEC Rule 17a-4, how long must customer account records be retained?
6 years for customer accounts (after closed). 3 years for correspondence. First 2 years = accessible.
Complete Analysis & Legal Rationale
SEC Rule 17a-4 requires that customer account records be retained for 6 years after the account is closed. During the first 2 years of this period, the records must be readily accessible for regulatory examination.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
3 years applies to correspondence, not customer account records.
Matches the verified teaching point in the explanation.
The retention starts after the account is closed, not from opening.
10 years exceeds the 6-year requirement.
Official Standard: Primary source referenced in the explanation (SEC Rule 17a-4). Verify current text before launch.