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Brokerage Standards Manual

Notice of Change: Information in this manual changed when new agency and disclosure rules came into effect on June 15, 2018. Learn more about the new rules.

Accounting and Financial Records/Systems

7. Record Requirements

(c) Electronic Records

Section 8-9.1 of the Rules allows required records to be retained as an electronic record if that record can be readily transferred to printed form. If brokerages maintain records electronically the electronic records must be provided in printed form if requested by a person authorized under RESA to inspect, review or receive the records of the brokerage.

The requirement to maintain books and records in British Columbia is not satisfied where the medium on which the records are electronically stored is outside of the province and remotely accessed. In cases where a brokerage is maintaining electronic records and the server and other equipment is located outside of British Columbia, at a minimum, either a paper copy of the records or an electronic version of the records (e.g. PDF files) must be maintained in British Columbia and available for inspection under RESA.

It should also be noted that nothing in RESA or the Rules relieves a brokerage of its obligation to meet the requirements imposed by other statutes, whether federal, provincial or municipal, on the electronic retention of records and books of account.