ICOBS Sch 1 Record keeping requirements
Handbook reference |
Subject of record |
Contents of record |
When record must be made |
Retention period |
ICOBS 1 Annex 1 G, Part 2 3.1R(3) |
Record of election to comply with COBS rules for pure protection policies (including amendment or reversal) |
Date of election and precise description of parts of the firm's business that will comply with COBS provisions |
Not specified |
Indefinitely |
Eligibility |
Details of whether the customer is eligible to claim each of the benefits under each policy included in the packaged bank account |
Date of eligibility assessment |
3 years |
|
Suitability and recommendation given |
Details of whether each policy included in the packaged bank account is suitable for the customer's demand and needs, the recommendation given and the reasons for the recommendation |
Date of recommendation |
3 years |