Main
>
Legal Framework
>
9.1. Trade confirmations
FINANCIAL SERVICES LEGISLATION
RULES
CONDUCT OF BUSINESS RULES
Guidance: Purpose of this rulebook
SCHEDULE 1: TRANSACTION RECORDS
SCHEDULE 2: KEY INFORMATION AND CONTENT OF CLIENT AGREEMENT
SCHEDULE 3: TRADE CONFIRMATION
SCHEDULE 4: PERIODIC STATEMENTS
SCHEDULE 5: FINANCIAL PROMOTIONS
Entire Act

9.1. Trade confirmations

9.1.1. Application

COB 9.1 does not apply to an Authorised Firm that executes a transaction in the course of Managing Investments for a Client.

9.1.2. Providing trade confirmations

When an Authorised Firm executes a transaction in an Investment for a Client, it must provide a confirmation note to the Client as soon as possible and in any case no later than 2 business days following the date of execution of the transaction.

9.1.3. Content of trade confirmations

The confirmation note must include the details of the transaction in accordance with Schedule 3.

9.1.4. Market Counterparties

An Authorised Firm may agree with a Professional Client or Market Counterparty to provide reporting on transactions differently from the requirements in COB 9.1 in relation to content and timing.

9.1.5. Record keeping

An Authorised Firm must retain a copy of each confirmation note sent to a Client and retain it for a minimum of six years from the date of despatch.