Section
Records and rules
What regulators require firms to tape, and for how long.
Recording a trading call is a legal duty in most large markets, and the details differ more than the headlines suggest. Europe applies one rule to every investment firm. The United States divides the duty between the futures regulator and the securities self-regulator, and applies it unevenly within each.
Trade call recording rules compares the European and American duties, what each obliges a firm to capture and which firms fall under it. How long trade recordings must be kept sets out the retention periods, from one year for some oral records to seven where a European supervisor asks, and when each clock starts. Each page describes the rules as of its date.
Newest first
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How long trade recordings must be kept
Five years under MiFID II, one year for oral records at the CFTC, three for FINRA taping firms: retention periods for trading calls and when the clock starts.
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Trade call recording rules: MiFID II, the CFTC and FINRA
What MiFID II Article 16(7), CFTC Rule 1.35 and FINRA Rule 3170 each require firms to record, who they cover, and where the European and U.S. rules part ways.
