Just as investment advisers registered with the SEC must comply with books and records requirements, so too must CFTC-registered entities abide by its books and records rule
It mirrors the SEC’s in many ways. For instance, records from the most recent two years must be “readily accessible” while documents going back five years but be kept.
There are some differences that have challenged dual-registrants. Controversy about some of the CFTC’s requirements has caused the Commission to backtrack. For example, around the recording of swaps conversations.