A record in (1) must be retained for the following periods:
the date of confirmation and (where appropriate) approval;
details of the medium for which the financial promotion was authorised;
the evidence supporting any material factual statement about an investment matter in the financial promotion.
A firm should also retain a copy of the financial promotion as finally published or, if this is not practicable, monitor the published version to verify that it is in substantially the same format as the version which the firm confirmed complied with the rules in this chapter.
Records which should be retained include:
see COB 3.14.5 G (6) for guidance on recording an electronic financial promotion containing market information which is updated continuously.
A firm may arrange for records to be kept in such form as it chooses, such as hard copy, disk or tape. If the financial promotion is not in a written form, the record should represent the actual financial promotion as accurately as possible. A record would be "readily accessible" if it were available for inspection within 48 hours of the request being made. SYSC 3.2.20 R (2) (Records to be capable of reproduction on paper) does not apply to records of real time financial promotions.1