A couple of things relating to this request.  First, looking at retention requirements for Financial Services is generally too broad, because there are several narrower sectors.  There's banking, but there's also securities, investment advisory, broker-dealer, capital markets and private equity/hedge fund, among others.  Records retention requirements for any of these industry segments will depend heavily upon the functional taxonomy that is adopted for the specific business, i.e., the structural classification of functions, activities and records series identified by the records management/information governance group and approved by the business units.

Second, those of us in the financial sector that have already gone through this activity can attest to the fact that identifying the applicable legal and regulatory requirements is one element of a complex process that takes many months and a large amount of resources (human and monetary) to do comprehensively and well.  There's no one place you can go on the internet to answer the question posted below, and no one is going to give away their research.  I'm always willing to chat with folks about the process -- i.e., what we did, what resources we used, the form of the end product we arrived at, etc. -- but I don't share the foundational research that informs our records retention program.


Lee R. Nemchek, MLS, CRM
Vice President, Records Management 
Oaktree Capital Management, L.P.
333 South Grand Avenue, 28th Floor
Los Angeles, CA  90071 
p +1 213 830-6252   f +1 213 830-8504
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-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On Behalf Of James Merrifield II
Sent: Tuesday, January 22, 2013 7:08 AM
To: [log in to unmask]
Subject: Records Retention Requirements

Does anyone know the records retention regulatory requirements applicable to the Financial Services and Banking industries?

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