Which of the following scenarios would constitute a violation of CIRO Rule 5 regarding financial record-keeping?
A Dealer maintains risk-adjusted capital calculations in an electronic format with daily off-site backups
A Dealer fails to maintain a record of the calculation of its minimum capital requirementsCorrect
A Dealer allows a CIRO auditor to make physical photocopies of its general ledger
A Dealer destroys trade confirmations exactly seven years and one day after they were created
Why
Under Rule 5.1(e), a Dealer is specifically required to maintain records of the calculation of minimum capital, adjusted liabilities, and risk-adjusted capital.
