INMA 9B.1.7 Dealing and managing — recordkeeping
(1) An INMA firm must ensure, by establishing and maintaining appropriate procedures, that it promptly records adequate information in relation to each of the following:
(a) the receipt of customer orders;
(b) the exercise of its discretion to decide to execute transactions for customer orders;
(c) the execution of transactions for customer orders;
(d) the passing of customer orders to other persons for execution of transactions;
(e) the execution of own account transactions.
(2) Subrule (1) (c) and (d) do not apply to the INMA firm if it is only arranging a transaction for a customer.
(3) The records must record the information required by Schedule 5.
(4) The INMA firm must keep records made under this rule for a customer order or own account transaction for at least 6 years after the day the transaction (or the last of the transactions) for the order is executed.
|Inserted by QFCRA RM/2019-4 (as from 1st January 2020).|