IMEB 8.1.7 Duty to safeguard documents and assets
(1) This rule applies to—
(a) a document evidencing a client's title to a contract of insurance or other similar document; or
(b) a tangible asset belonging to a client;
that is in the possession or under the control of a firm.
(2) A firm must take reasonable steps to ensure that any document or tangible asset to which this rule applies—
(a) is kept safe until it is given to the client; and
(b) is not given to any other person except in accordance with written instructions given by the client; and
(c) is described in a record made by the firm.
(3) The record about a document or asset must include—
(a) sufficient details to enable the document or asset to be readily identified; and
(b) the date the document or asset was received by the firm; and
(c) the date the document or asset is given to the client or other person.
|Derived from QFCRA RM/2011-3 (as from 1st July 2011)|