V(C): Record Retention

Liann Choong, CFA, is in charge of record retention at her investment firm. Her firm at present does not have a specific guideline for the number of years for proper record retention. Regulatory guidelines, however, require 6 years. In order to be in full compliance with CFA Institute Standards, the required number of years is:

Correct. Even though CFA Institute guideline is different, full compliance with the Standards is attained if the firm follows regulatory guidance.

Incorrect. This is CFA Institute’s guideline, but this is not what the Standard requires.

Incorrect. This is beyond what is required.

6 years

7 years

10 years