Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  1. Point in time
    2005-06-01

LLD Sch 1 Record keeping requirements

LLD Sch 1.1G

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. In particular, in accordance with the application rules in LLD 16 to LLD 25, the Society and managing agents are subject to prudential requirements in PRU which include record keeping requirements. They should refer to the relevant Schedules to PRU for a view of those requirements.
LLD Sch 1.2G

Handbook reference

Subject of record

Contents of record

When record must be made

Retention period

LLD 1.2.2 G (1)

Delegation of responsibility for carrying out the Society's regulatory functions

Not specified

Not specified

Not specified

LLD 1.2.4 G (2)

Records of any committee with delegated authority to carry out the Society's regulatory functions

Should include minutes of its meetings

Not specified

Not specified

LLD 1.2.5 G (2)

An individual's or other person's exercise of his delegated authority to carry out the Society's regulatory functions

Not specified

Not specified

Not specified

LLD 1.3.10 G (1)

Interests of those involved in carrying out the Society's regulatory functions

Register of interests

Not specified

Not specified

LLD 1.3.10 G (2)

Conflicts of interest of those involved in carrying out the Society's regulatory functions

Disclosures of conflicts of interest and the steps taken to handle them

Not specified

Not specified

LLD 4.2.3 G (1)

Transactions in the capacity transfer market

Adequate audit trails

Not specified

Not specified

LLD 5.2.3 G

Notifications made to the Society by, or on behalf of, certain persons who have ceased to be underwriting members

Changes of address and deaths of certain persons who have ceased to be underwriting members

Not specified

Not specified

LLD 7.3.1 GLLD 7.3.2 G

Complaints from members or former members involving allegations that they have suffered, or may suffer, financial loss, material distress or material inconvenience

Not specified

Not specified

Minimum period of 3 years from receipt of complaint

LLD 9.4.5 R

Accounting records

Sufficient to demonstrate compliance with LLD 9 to LLD 15

As required in accordance with LLD 9 to LLD 15

Normally not less than 10 years

LLD 10.8.3 G (4)

Managing agents' records

Various records and analyses of underwriting and claims

Not specified

Not specified