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 Sch 1 Record keeping requirements

TC Sch - 1.1G

5TC 2.1.24 R provides:

A firm must, for the purposes of TC 3.1.1 R (Record keeping), make and retain records of:

(1)

the continuing professional development completed by each retail investment adviser ; and

(2)

the dates of and reasons for any suspension of the continuing professional development requirements under TC 2.1.17 R .

TC Sch 1.1G

3TC 3.1.1 R provides:

A 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)

at least 5 years for MiFID business;

(2)

3 years for non-MiFID business; and

(3)

indefinitely for a pension transfer specialist.