INMA 6.1.27 Record-keeping
(1) An INMA firm must maintain records that enable it:
(a) to demonstrate to its auditors and the Regulatory Authority that it complies with this Chapter; and
(b) to demonstrate and explain all entries of custody investments held or controlled in accordance with this Chapter.
(2) An INMA firm must maintain a master list of every account that it holds with an eligible custodian. The master list must set out:
(a) the name of the account;
(b) the account number;
(c) the location of the account;
(d) whether the account is currently open or closed; and
(e) the date on which it was opened and if applicable, the date on which it was closed.
(3) The details of an account must be documented and maintained in the master list for at least 6 years after the account is closed.
(4) An INMA firm must maintain records of every agreement with an eligible custodian and any instruction given by the firm to a custodian under such an agreement.
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|