Regulatory Alerts2016-03-21
Amendment of Decision 10 on Financial Intermediation Institutions
The Capital Markets Authority amended Decision No. 10 to require approved financial intermediation institutions to record all client-related securities phone calls and explicitly notify clients of this practice. The regulation mandates retaining recorded calls and Bloomberg Terminal conversations for ten years, with extended storage for ongoing disputes or investigations, while integrating data preservation into institutional contingency plans. This amendment broadly defines clients to encompass individuals, corporations, counterparties, and correspondents, ensuring comprehensive compliance across all securities communications.
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