Schweser volume 1 page 76 question 25, Minter destroy the document after three days. According to the answer, he violated the standards coz didn’t maintain copy for seven yrs. But when we refer to the V© record retention, it is ONLY recommended 7 yr of record keeping. It is not compulsory. Does he violate the standards?
7 years is recommended. Keeping adequate records is mandatory. 3 days is clearly not adequate.
just to add … if not hardcopy, then digital versions of the proofs it fine too…
7 years if law doesn’t require anything else.