An Investment Dealer’s compliance department is notified that CIRO intends to exercise its power under Rule 5.5 to retain copies of certain internal audit logs. For what purpose is the Corporation (CIRO) authorized to retain these copies?
To provide public access to the Dealer's internal financial strategies
To sell the data to third-party marketing firms for industry analysis
To act as a secondary off-site backup for the Dealer’s own business continuity plan
For the purpose of carrying out its responsibilities under securities legislationCorrect
Why
Rule 5.5 specifically states the Corporation is entitled to make and retain copies of records for the purpose of carrying out its regulatory responsibilities.
