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Record Keeping Comply with regulated record keeping requirements
When an FSP's compliance officer accesses electronically stored records, the FSP must ensure that:
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The client personally approves each individual access.
- b) The access is unrestricted and unrecorded for efficiency.
- c) Only printed copies are ever used, since electronic access is never permitted.
- d) The access is auditable, secure and documented, so a trail of who accessed what is maintained and integrity is preserved.Correct
Why this is the answer
Access must be auditable, secure and documented to protect record integrity and track who accessed them. Unrecorded access defeats accountability, per-access client approval is not required, and electronic access is permitted when properly controlled.
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