INMA S5.1 Minimum records of customer orders

(1) An INMA firm must record the information required by table S5.1 if an event mentioned in the table happens.

Table S5.1 Minimum details for dealing and managing

  event minimum details required
1 firm receives a customer order or decides to execute a transaction for a customer order in the exercise of its discretion 1 the customer's name (or other means of identification) and account number if any

2 if relevant, the date and time the customer order is received by the firm

3 if relevant, the date and time that the firm decides to execute a transaction for the customer order in the exercise of its discretion

4 the name of the employee who received the customer order or made the decision to execute the transaction

5 the relevant investment, and the number, or total value of, the relevant investment (including any price limit or trading instructions)

6 whether the customer order is for a purchase or sale

7 any other instruction received by the firm from the customer about the carrying out of the customer order (including any amendments of the customer order or cancellation of the customer order)
2 firm executes a transaction for a customer order 1 the customer's name (or other means of identification) and account number if any

2 the name of the counterparty, if known to the firm

3 the date and time of the transaction, if available

4 the name of the employee executing the transaction

5 the relevant investment, and the number, or total value of, the relevant investment

6 the price and other significant terms (including exchange rate details, if relevant)

7 whether the transaction was a purchase or sale
3 firm passes a customer order to another person for execution of transaction 1 the name of the person instructed

2 the terms of the instructions

3 the date and time the instruction was given.
(2) However, if the INMA firm acts as an investment manager and its decision to effect a transaction of a customer is contemporaneous with the execution of the relevant customer order or its passing of the relevant customer order to another person for execution, the firm does not need to create separate records of the time of the decision to deal, and the time of execution of the customer order or passing the customer order to the other person, if the transaction record contains a note or other indication that these happened contemporaneously.
Inserted by QFCRA RM/2019-4 (as from 1st January 2020).