Where must the licensee keep all records of business transactions?

The requirement for a licensee to keep all records of business transactions in the licensee's office is grounded in the necessity for easy access and compliance with regulatory standards. Maintaining records on-site allows for quick retrieval when documentation is needed for audits, reviews, or client inquiries. It ensures that the records are readily accessible for the licensee and any authorized personnel during regular business operations or in the event of inspections by regulatory bodies.

Keeping records in a secure and designated office setting also emphasizes accountability and organization, which are crucial for maintaining professionalism in business practices. While there are various methods to store records, such as cloud storage, offsite locations, or safety deposit boxes, these alternatives may not satisfy the immediate access requirements or regulatory mandates that dictate how and where specific records must be maintained.