Client Agreement Record Keeping

In addition to maintaining custom storage data, businesses must be independently managed and managed without relying on third-party records. Under Section 11.1 (e) of the contract, customer records must be kept for at least seven years from the date of the supplier`s last interaction with the customer. The date of the last interaction would be the date of the last service provided to the customer, the date of the last contact with the customer or the date on which you will be notified that the customer has passed away. This is the “minimum shelf life.” Five years after the last time the client`s money was held by the company in connection with the sub-pool to which the data set was applied During the period during which the company is exempt from CASS 6.1.12 R for the secure retention of that customer, you must keep a copy of each account statement you send to a customer. All assets held by the entity as its clients, including assets deposited with third parties under CASS 6.3 and any physical custodian (b) the information required under Article 47 of this agreement or on these investment or incidental services. The client`s money for each client and the company`s own money The company confirms that when we carry out a specific investment activity, with the exception of investment advice or advice on the conversion or transfer of pension benefits, with or for a new client, we always enter into a basic contract written on paper or any other permanent support, the client having the essential rights and obligations on our part and that of the client. If all documents in a customer record are older than the minimum storage period, the client`s records may be destroyed. The purpose of the guidelines in the table below is to provide the reader with a quick overview of the relevant registration requirements. If the information in paragraph 1 is communicated to a customer in a timely manner prior to the service, a company is not required to provide it separately or include it in a customer agreement. Before the company uses an atypical method of internal adjustment of the customer`s money or significantly alters its method14 Customer Details and Retention 5, which are used for the company`s own account or on behalf of another safe company client holding 5 held assets for each client and the company`s own applicable assets5 Total amount of customer money that the business should hold for each customer.

Effective Srecord-Keeping and coordination management is essential to contain companies and the ACF. Customer datasets scanned from paper data must contain a certificate certifying that quality control has been carried out and that the electronic customer dataset is an accurate copy of the complete paper data set. This certification must include: Customers` electronic records must be stored in a password-protected system that no one needs or needs access to. The storage system should be protected by security software and a business recovery and/or continuity plan. When a customer makes a large cash transaction, your registration must indicate receipt of $10,000 or more in cash, as well as the following information: The customer`s dataset must contain all documents created or received when providing services to program customers. It must also provide records and evidence of all services provided to program clients, which are sufficient to justify possible payment fees for these services. A customer dataset is not “complete” unless it contains all relevant information. For more details on registration requirements for certain services, see the 2019 Advisory Services Program (the instrument), the definition of “data sets” in the contract, the schedule of service items and charges, and the supplier`s fact sheets.

© 2021 Mahrs Schoppman, M.A., LMFT