durable medium
- (b) any instrument which enables the recipient to store information addressed personally to the recipient in a way accessible for future reference and for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored. In relation to the equivalent business of a third country investment firm, MiFID optional exemption business or collective portfolio management, if the relevant rule derives from the MiFID Org Regulation or is a rule which implemented124 the UCITS Directive, the UCITS implementing Directive or the UCITS implementing Directive No 2 the instrument used must be:3636112121112.12140404040404036401124012201740711127112136
- (i) appropriate to the context in which the business is to be carried on; and36
- (ii) specifically 40chosen by the recipient 40when offered the choice between that instrument and paper.36
- (iii) the instrument used must be appropriate in the context of the business conducted between the insurance distributor and (for ICOBS) the customer or (for COBS) the client; and121
- (iv) the customer (for ICOBS) or client (for COBS) must be given the choice between information on paper and the instrument used, and must specifically choose the latter medium.121