COLL 4.1.7 Records of Operator—All QFC Schemes

(1) The operator of a QFC scheme must make the records necessary—
(a) to enable the operator to comply with—
(i) these rules; and
(ii) the other provisions of the law applying in the QFC in relation to—
(A) the scheme; or
(B) the operator as the operator of a QFC scheme or as an authorised firm; and
(b) to demonstrate at all times whether it has complied with these rules.
(2) If the scheme is a QFC qualified investor scheme and the latest filed prospectus states that the operator's policy is to require a dilution adjustment or dilution levy, the operator must make a record of—
(a) how it calculates and estimates dilution; and
(b) its policy and method for deciding the rate or amount of any dilution adjustment or dilution levy.

Note Latest filed prospectus, dilution adjustment, dilution levy and dilution are defined in the glossary.
(3) If the scheme is a QFC retail scheme, the operator must make a record of—
(a) how it calculates and estimates dilution; and
(b) its policy and method for deciding the rate or amount of any dilution adjustment or dilution levy.
(4) Subrules (2) and (3) do not limit subrule (1).
(5) The operator must keep records made for this rule for at least 6 years after the day they are made.
(6) The operator must, at the request of the Regulatory Authority, the independent entity or the auditor—
(a) make records kept under this rule available for inspection within a reasonable period of not longer than 3 days; and
(b) provide a copy of any of the records, in the requested form (if any), within a reasonable period of not longer than 3 days.
(7) The operator must not charge for making records available, or providing a copy of any records, under subrule (6).

Note GENE, ch 6 also contains provisions about record-keeping.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)