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Record Keeping Comply with regulated record keeping requirements
A product supplier, a client's adult daughter and an inspector appointed by the FSCA each ask to see a client's record of advice. The client has given no authority to anyone. Who is entitled to see it?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The inspector and the product supplier
- b) All three of them
- c) Only the product supplier
- d) Only the inspectorCorrect
Why this is the answer
An FSP must keep its records available for inspection by the Authority or a person it appoints. A product supplier and a family member have no right to see a client's advice record without the client's authority, and disclosing it to them would also breach the client's privacy.
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