Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

TC 3.1 Record-keeping requirements

TC 3.1.1 R RP

1A firm must make appropriate records to demonstrate compliance with the rules in this sourcebook and keep them for the following periods after an employee stops carrying on the activity:

  1. (1)

    at least 5 years for MiFID business;

  2. (2)

    3 years for non-MiFID business; and

  3. (3)

    indefinitely for a pension transfer specialist.

[Note: article 9(4) of the MCD]2