An athlete agent shall retain the following records for a period of 5 years: the name of each individual represented by the athlete agent; the address of each individual represented by the athlete agent; any agency contract entered into by the athlete agent; and any direct costs incurred by the athlete agent in the recruitment or solicitation of a student-athlete to enter into an agency contract. Records required to be retained by subsection (a) of this section are open to inspection by the Secretary during normal business hours.