For broker-dealers and financial firms, careful recordkeeping is more than just a best practice. There are strict rules on preserving data, such as internal records and social media posts, and these rules are enforced by the Financial Industry Regulatory Authority (FINRA).
FINRA record retention requirements have several purposes, which include protecting investors and preserving information for potential audits. With firms increasingly relying on social media platforms, compliance with these requirements is changing. Hanzo Chronicle could you help stay compliant.
FINRA developed its recordkeeping regulations based on the Securities and Exchange Commission’s rules, which outline the documents and data that broker-dealers and financial firms must retain, as well as how long they must retain them.
Traditionally, these rules focused on materials like customer account records, correspondence, and advertisements. They also specified retention periods commonly ranging from three to six years, depending on the record type. For example, firms must preserve customer account information for the life of the account plus 6 years.
In addition to duration requirements, FINRA mandates that records be accessible, searchable, and stored in a manner that prevents unauthorized alteration. Historically, this meant the use of write-once, read-many systems, but regulators now permit alternative compliant storage methods so long as data integrity remains intact.
FINRA interprets the phrase “communications with the public” broadly. It does not solely encompass printed materials, email, or written reports. Digital content such as websites, microsites, social media content, and even messaging app communications can fall within the scope of what firms must retain.
The shift to digital communication means record retention teams must supervise multiple channels, especially those that update frequently, like social media, to meet FINRA’s requirements.
A firm’s website is one of its most visible communication outlets. FINRA requires firms to retain historical versions of the content they publish online, including any customer-facing information relevant to sales practices or investor decision-making. Firms must be able to recreate what a user saw at a particular moment in time.
Effective website retention usually requires more than just screenshots or copied text. Context matters, as regulators may need to see navigation paths and metadata to get a clear understanding of what consumers were looking at. Comprehensive versioning of website data ensures that regulators can audit and substantiate content changes. It helps demonstrate that appropriate disclosure language or risk statements were visible when claims or promotions went live.
Social platforms add complexity to recordkeeping requirements under FINRA. It is essential to save business communications that relate to regulated products. These communications can include:
Unlike websites, social media content evolves through user interactions, algorithmic reshuffling, and time-based feeds. Users can edit and remove content or contextualize it through comments, making record retention a challenge. A single social media post may trigger investor questions or conversations that alter its meaning or introduce compliance risk.
Moving forward, website and social media data will only become a larger part of FINRA record retention requirements. The retention process can be tedious, but the right technology can make it simple and efficient.
With Hanzo Chronicle, the process is straightforward. You gain the ability to archive and preserve not only past versions of your website, but also years of old social media posts. Connect with us to learn more about how Chronicle could help you with your retention efforts.
Content Team 
