local regulations requirement 是从哪里看出来五年的呀？

问题如下：

Jacaranda’s record-keeping policy is most likely in violation of Standard V(C)–Record Retention with regard to the:

选项：

A.keeping of hard and electronic copies.

B.retention of personal notes and research models.

C.retention time frame.

解释：

B is correct. Standard V(C)–Record Retention requires the retention and maintenance of records to support the investment analyses, recommendations, actions, and other investment-related communications with clients and prospective clients. Because the independent research contractor provides research only for Jacaranda, he would not necessarily be considered a third-party research provider. Thus, he would be required to send his research reports to the firm along with his underlying supporting analysis and financial models. Therefore, Jacaranda does not meet the record retention requirements. The standard allows firms to keep hard copies and/or electronic copies of documents. In addition, although it recommends files be retained for a minimum of seven years, Jacaranda is still in compliance with the standard in that it meets local regulatory requirements.

C is incorrect because while the Standard recommends files be retained for a minimum of seven years, Jacaranda is still in compliance with the Standard in that it meets local requirements.

A is incorrect because the Standard allows for firms to keep hard copies and/or electronic copies of documents.