• COBS 2.7 COBS 2.7 Record Keeping

    • COBS 2.7.1

      In addition to any applicable rules under GEN relating to record keeping, and the remainder of these Rules, an Authorised Person must keep records of:

      (a) the procedures which it has followed under these Rules, including any documents which evidence the Client's classification; and
      (b) any notice sent to the Client pursuant to these Rules and evidence of despatch.

    • COBS 2.7.2

      The records must be kept by an Authorised Person for at least six years from the date on which the business relationship with a Client has ended.

    • COBS 2.7.3

      An Authorised Person may, if the date on which the business relationship with the Client ended is unclear, treat the date of the completion of the last Transaction with the Client as the date on which the business relationship ended.

    • COBS 2.7.4

      An Authorised Person must ensure that in relation to reliance on a classification made elsewhere (Rule 2.6.3) and in relation to Group Clients (Rule 2.6.4), the Regulator has unrestricted access to all the records required for the Authorised Person to be able to demonstrate to the Regulator its compliance with the applicable requirements, including any records maintained by or at its head office or any other branch of the same legal entity, or a member of its Group.

    • COBS 2.7.5

      An Authorised Person must notify the Regulator immediately if, for any reason, it is no longer able to provide unrestricted access to records.