INMA 7.1.2 Adequate records to be kept

(1) If an INMA firm receives or holds relevant investments of a customer under an arrangement described in rule 7.1.1, the firm must keep adequate records to enable it to meet any future obligations to the customer in relation to the investments, including the obligation to return equivalent relevant investments to the customer.
(2) However, if the investments are received under an arrangement described in rule 7.1.1(1)(a)(ii), subrule (1) applies only if the firm has exercised its right to use them as if the customer's entire legal and beneficial interest in them had been transferred to the firm.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).