In the wake of a heavy volume of SEC enforcement actions against investment advisers and broker-dealers for failures to comply with prohibitions against off-channel communications, recordkeeping compliance has become all the more urgent. Advisory firms report that they receive frequent inquiries about what specific records they may or may not have to maintain, in what form and for how long. Many fund managers want to know whether a prime broker, trade confirmation agent or other external service provider can domicile records that they are required to keep, without falling afoul of in-house recordkeeping requirements. Adding further complexity are the myriad formats in which records now exist. For some fund managers, compliance could be challenging even without the pervasive and growing use of off-channel devices and methods, such as texting and social media apps, to send and receive business-related communications. This article summarizes the various records that fund managers operating under the SEC’s purview are required to keep and in what format; discusses the challenges of complying with the recordkeeping requirements; presents legal commentary on the significance of recent regulatory actions concerning books and records; and offers downloadable checklists that CCOs can use when reviewing the records they maintain to ensure they are in compliance with the recordkeeping requirements. See our two-part roadmap to maintaining books and records: “Compliance With Applicable Regulations” (Nov. 2, 2017); and “Document Retention and SEC Expectations” (Nov. 9, 2017).