Bill Kimm, CFA owns an asset management firm with offices downtown. To minimize rent expenses, each year Bill ships the previous year’s research records to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms. After five years, all paper copies are destroyed and only electronic copies are retained. Are Bill’s record-retention procedures in compliance with the CFA Institute Standards of Practice()

A. Yes.

B. No, because he did not retain the copies in his offices.

C. No, because he failed to retain the original documents.