Beware the SEC’s Sweeping Definition of Books, Records | Corporate Counsel

The federal securities laws require public companies to make and keep detailed and accurate “books, records, and accounts.” One might assume that a securities law relating to books and records covers materials used in the preparation of financial statements. But in practice, the U.S. Securities and Exchange Commission applies a much broader definition that seems to encompass every piece of paper and data in a company’s possession.

via Beware the SEC’s Sweeping Definition of Books, Records | Corporate Counsel