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Record Keeping Comply with regulated record keeping requirements
An FSP keeps all required records electronically. Which of the following is NOT a FAIS requirement for those electronic records?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) They must be printed to hard copy at the end of each financial year.Correct
- b) They must be readily retrievable when needed.
- c) They must be securely backed up against loss or destruction.
- d) They must be stored so that their integrity is preserved against alteration.
Why this is the answer
Electronic storage is permitted provided the records are retrievable, securely backed up and protected against tampering. There is no requirement to print everything to hard copy annually — that is the odd one out.
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