Who is required to be fingerprinted and what records must my firm maintain?
Pursuant to Exchange Act Rule 17f-2 and PHLX Rule 623, every member of a national securities exchange shall require its partners, directors, officers and employees to be fingerprinted. All fingerprints shall be submitted to the Attorney General of the United States or its designee. (i.e., the Federal Bureau of Investigations) Broker dealers must retain evidence that the fingerprints have been taken and submitted for each individual. Securities Exchange Act Rule 17f-2 allows for certain exemptions from fingerprinting but those exemptions are limited.
