How long is a financial institution required to keep phone voice recording for account opening. Parent Company is Wells Fargo, Inc. The account is WellsTrade account, at Wells Fargo Advisors, LLC. Does Sarbanex-Oxley apply here? How long must voice recording be retained?
1 Answer from Attorneys
Dear Sir or Madam,
I do not believe that broker-dealers are required to tape these conversations, but if they do then it is either 3 or 6 years that the new account information is required to be kept. I do not think that Sarbanes-Oxley is triggered on this fact pattern. One thing that is not stated is what you think this information will do for you. Most, if not all, new account agreements contain a pre-dispute arbitration clause. That means that you will likely have to arbitrate your dispute before FINRA.
May Law PC
Related Questions & Answers
When consolidating promissory notes, can you consolidate the notes to have the... Asked 7/25/13, 12:32 pm in United States California Securities Law
In complaint filed pro se, should I include cases with quotes directing judges to be... Asked 5/17/13, 12:23 pm in United States California Securities Law
I got arrested in NY for a drug charge but the case was dismissed - adjournment in... Asked 4/22/13, 10:36 am in United States California Securities Law
Hi, I've been doing software developement and consulting for a CA __ Inc. (which is... Asked 4/08/13, 7:04 am in United States California Securities Law
Is it illegal for me to buy shares of the publicly traded company i work for, and if... Asked 2/15/13, 12:15 pm in United States California Securities Law