Version 2 of the Handbook was published on 23 December 2011, and was superseded by Version 3 on 18 April 2012. For more information, click "History" above.
Where a firm receives instructions from a client to effect a transaction, or makes a decision to effect a transaction in its discretion, it shall keep a record of:
the name of the client;
the terms of the instructions or decision; and
in the case of instructions, the date when they were received.
Where a firm gives instructions to another person to effect a transaction, it shall keep a record of:
the terms of the instructions;
the date when the instructions were given; and
the name of the other person instructed.
Note
It is not necessary for the firm to make a separate record. Normal file notes or letters on the file will meet the requirements of this rule provided that they include the appropriate information. If instructions are given or received over the telephone, an appropriate attendance note would satisfy this rule.
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