FSA Conduct of Business Rules (Rule 5.54 & Appendix 18)

Rule 5-54 requires firms to ensure that “sufficient information is recorded and retained about its regulated business and compliance with the regulatory system.” Appendix 18 summarizes the record-keeping requirements that arise under rule 5-54. Firms are reminded that the purpose of the record-keeping requirement for customer orders (Appendix 18 Part IV) is to provide a continuous audit trail for customer dealings.

Smarsh, Inc. assumes no liability for the accuracy or completeness of this information. Please consult with an attorney for specific information on specific rules and regulations and how they apply to your business.

Helpful Links:
Documentation of the rules in .pdf format