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You are viewing the version of the document as on 2022-02-28.

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    2022-02-28

COBS 16A.2 General client reporting and record keeping requirements

COBS 16A.2.1R
  1. (1)

    A firm must provide a client with adequate reports on the service provided in a durable medium.

  2. (2)

    The reports must include:

    1. (a)

      periodic communications to the client, taking into account the type and the complexity of the financial instruments or insurance-based investment products1 involved and the nature of the service provided to the client; and

    2. (b)

      where applicable, the costs associated with the transactions and services undertaken on behalf of the client.

[Note: article 25(6) of MIFID, article 30(5) of the IDD1]

COBS 16A.2.2G

A firm should refer to SYSC 3.2 (for insurers and managing agents) and1 SYSC 9 (for other firms)1 for the requirements that apply in relation to the retention of records.