12 CFR 205.13

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Administrative Enforcement: Record Retention

(a) Enforcement by federal agencies. Compliance with this part is enforced by the agencies listed in Appendix B of this part.

(b) Record retention.

(1) Any person subject to the act and this part shall retain evidence of compliance with the requirements imposed by the act and this part for a period of not less than two years from the date disclosures are required to be made or action is required to be taken.

(2) Any person subject to the act and this part having actual notice that it is the subject of an investigation or an enforcement proceeding by its enforcement agency, or having been served with notice of an action filed under sections 910, 915, or 916(a) of the act, shall retain the records that pertain to the investigation, action, or proceeding until final disposition of the matter unless an earlier time is allowed by court or agency order.

Credits

[44 FR 59472, Oct. 15, 1979, as amended at 45 FR 8266, Feb. 6, 1980; 50 FR 8708, March 5, 1985; 54 FR 53539, Dec. 29, 1989; 61 FR 19669, 19674, May 2, 1996]

SOURCE: 44 FR 18480, March 28, 1979, 59 FR 10683, March 7, 1994; 62 FR 43469, Aug. 14, 1997; 66 FR 15192, March 16, 2001, unless otherwise noted.

AUTHORITY: 15 U.S.C. 1693b.