Recorded on a LAR in any format (paper, electronic), and it can be separated by branch or product or whatever, buf it must be available to your regulator in a timely manner on request.
That doesn't say it has to be scrubbed. But I don't think it should be so full of errors that it's not of any use, either.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8