ICOB Sch 1 Record Keeping Requirements

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant record-keeping requirements.

It is not a complete statement of those requirements and should not be relied on as if it were

1ICOB 1.2.17R (2)

Record of election to comply with COB rules for pension term assurance policies (including amendment or reversal of election)

Date of election and precise description of parts of the firm's business that will comply with COB provisions

Not specified

Indefinitely

ICOB 4.4.7 R

Personal recommendation to customer

Explanation of why the personal recommendation is suitable for the customer's demands and needs

The date on which personal recommendation is made

Three years

ICOB 5.7.1 R

Policy summary

As set out in ICOB 5.5.5 R

The date on which policy summary is provided to the customer

Three years

ICOB 5.7.1 R

Policy Document

All the contractual terms and conditions

The date on which policy document is provided to the customer

Three years

ICOB 7.7.1 R

Claims information

Details of claim, the date on which the claim was settled or rejected and details of rejection including information relevant to the basis for settling or rejecting the claim

The date on which claim is settled or rejected

Three years