Lorrin: The SEC changed the regulations by issuing a final rule in
January, 2003 which aligns the retention periods to 7 years. You can
get the final rule from the SEC webpage:
A notice of this change was also posted on the ARMA webpage under the
Washington Policy Brief shortly after the final rule was issued.
Rae Cogar, Esq.
From: Records Management Program [mailto:[log in to unmask]] On
Behalf Of Lorrin Read, CRM
Subject: Re: Sarbanes-Oxley Act
The new Board formed by the SEC to monitor accounting firms is to keep
records for seven years, Title I Section 103 (a) (2) (A) (i). The actual
accounting firms are to keep records for five years, Title VIII Section
part 1520 (a) (1). Seems to be some conflict here. I believe this has
brought up to the SEC by a couple of folks from ARMA.
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