An Ohio broker operates a brokerage that uses an automated accounting system for trust account management. During a Division audit, the system crashes and the broker cannot immediately produce the required records. Under Ohio law:
Correct Answer
B) The broker is still responsible for maintaining accessible records and may face disciplinary action for failing to produce them
The broker is responsible for maintaining trust account records that are accessible and producible upon Division request. Technology failures do not excuse the obligation. Brokers should maintain backup records (digital and/or paper) to ensure records are always available for inspection.
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