Since 2007, Securities Industry Records Services, LLC (SIRS) has been a trusted provider of Designated Third Party (D3P) services,, assisting FINRA-registered securities broker-dealers (B/Ds) in meeting their electronic recordkeeping obligations under
SEA Rule 17a-4(f).
SEA Rule 17a-4(f)(4) mandates that broker-dealers who store required records electronically must do so in a non-rewriteable, non-erasable (WORM) format. A key component of this rule is the requirement for broker-dealers to engage a Designated Third Party (D3P) who has access to these records and can provide them to regulators if the broker-dealer is unable to do so.
17a-4(f)(3)(v) requires a B/D to engage the services of “a designated third party” who has access to and the ability to download records from the B/D’s electronic recordkeeping system.
To address this requirement, SIRS offers its D3P services. Through a contractual agreement, SIRS establishes access to the B/D’s electronic recordkeeping system. For an annually renewable service charge of $500, SIRS will provide its services, including the signed undertaking letter required by 17a-4(f)(3)(v).
