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Status: You are viewing the version of the handbook as on 2005-06-30.

SIFA 13.1 General requirement

SIFA 13.1.1G

A firm must take reasonable care to make and keep adequate records of matters and dealings (including accounting records) which are the subject of requirements and standards under the regulatory system. The records should be capable of being reproduced on paper in English. ( SYSC 3.2.20 R).

SIFA 13.1.2G

A firm should have appropriate systems and controls to fulfil its regulatory and statutory obligations on the adequacy, access, periods of retention and security of records. The general principle is that records should be kept for as long as is relevant for the purposes for which they are made. You can store records on computer disc so long as they are capable of being reproduced on paper.

SIFA 13.1.3G

You will find detailed record keeping requirements throughout the Handbook. Schedule 1 to each of the sourcebooks is an overall summary of these requirements.

SIFA 13.1.4G

There are references to record keeping in the following chapters of this Overview:

•'Authorisation' - Chapter 5;

•'Approved Persons' - Chapter 7;

•'Financial Resources and PII' - Chapter 8;

•'Conduct of Business' - Chapter 9;

•'Training and Competence' - Chapter 10;

•'Complaints Handling' - Chapter 11;

•'Reporting and Notifications' - Chapter 12; and

•'Money Laundering' - Chapter 14.