• GENE Chapter 6 GENE Chapter 6 Recordkeeping

    Editorial changes (as from 1st January 2016).

    • GENE Part 6.1 GENE Part 6.1 General recordkeeping requirement

      Amended by QFCRA RM/2010-04 (as from 1st October 2010)

      • GENE 6.1.1 Records that must be kept — general requirement

        An authorised firm must maintain appropriate records of:

        (a) matters and dealings, including accounting records;
        (b) policies and procedures; and
        (c) other documentation;

        which are required under regulations or rules applicable in the QFC.

        Note FSR, article 107 (2) provides that "all internal procedures, records or other documentation created or maintained by authorised firms or approved individuals as the Regulatory Authority shall determine shall be in English.".
        Amended by QFCRA RM 2019-1 (as from 28th March 2019).

    • GENE Part 6.2 GENE Part 6.2 Maintenance of Records

      • GENE 6.2.1A Application of s 6.2

        To remove any doubt, this Part applies to records that an authorised firm is required to keep (however described) under any regulations or rules.

        Editorial changes (as from 1st January 2016).

      • GENE 6.2.1 Reproduction of records on paper

        An authorised firm must ensure records, however stored, are capable of reproduction on paper within a reasonable period not exceeding 3 days.

        Editorial changes (as from 1st January 2016).

      • GENE 6.2.2 How records must be kept

        In maintaining records, an authorised firm must have regard to any requirements for preservation, confidentiality, security and the frequency and ease of access required to records.

        Amended by QFCRA RM/2014-1 (as from 1st February 2014).

      • GENE 6.2.3 General requirement for records to be kept in English

        subject to rule 6.2.4, an authorised firm must ensure records are maintained in the English language.

        Editorial changes (as from 1st January 2016).

      • GENE 6.2.4 Keeping records in other languages

        Where records relate to an authorised firm's activities not related to regulated activities in or from the QFC, the authorised firm may maintain those records in another language. If those records are requested by the Regulatory Authority they must be reproduced in English within a reasonable period not exceeding 7 days.

        Editorial changes (as from 1st January 2016).

      • GENE 6.2.5 Certified copies for original records

        (1) If original documents cannot be maintained, copies may be kept, provided they are duly certified copies of the original documents.
        (2) A document in subrule (1) must be certified by:
        (a) in the case of a document created or issued by the authorised firm itself, a director or secretary of the authorised firm;
        (b) in the case of a document issued by a public body responsible for the maintenance of the original document, a person properly authorised by that public body; or
        (c) in any other case, a person duly authorised to certify official documents in the jurisdiction in which the copy is being certified.
        Editorial changes (as from 1st January 2016).

      • GENE 6.2.6 How long records and documents must be kept — general requirement

        Unless otherwise stated in a specific provision, records and documents must be maintained by the authorised firm for at least 6 years.

        Editorial changes (as from 1st January 2016).

      • GENE 6.2.7 Records of firms formerly authorised

        (1) This rule applies to an authorised firm:
        (a) that has applied for its authorisation to be withdrawn in relation to all regulated activities; or
        (b) that has been given notice under FSR, article 31 (2) (C), that the Regulatory Authority has withdrawn the firm's authorisation, or varied it to remove all regulated activities.
        (2) Before the authorisation ceases to be in effect, the firm must make arrangements satisfactory to the Regulatory Authority:
        (a) for the storage and safe-keeping, for at least 6 years after the authorisation ceases to be in effect, of the firm's records in relation to its regulated activities; and
        (b) providing for those records to be produced to the authority within a reasonable period, at the authority's request, during the 6-year period.
        Inserted by QFCRA RM/2017-3 (as from 1st April 2017).

    • GENE 6.3 GENE 6.3 Summary of Record Keeping Requirements [Deleted]

      Deleted by QFCRA RM02/2009 (as from 6th December 2009).

      • GENE 6.3 Guidance [Deleted]

        Deleted by QFCRA RM02/2009 (as from 6th December 2009).