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  • Records of Telephone Conversations and Electronic Communications

    • MIE-A.4.9

      In addition to meeting the book-keeping and record-keeping requirements as per the applicable laws, rules and regulations, all capital market service providers must maintain records of telephone conversations and electronic communications, including facsimile, email and other instant messaging devices relating to their activities in the securities market and particularly the following activities:

      (a) Receiving client orders;
      (b) Executing client orders;
      (c) Arranging for client orders to be executed;
      (d) Carrying out transactions on behalf of the capital market service provider, or another person in the capital market service provider group, and which are part of the capital market service provider's trading activities, or the trading activities of another person in the capital market service provider group;
      (e) Executing orders that result from decisions by the capital market service provider to deal on behalf of its client;
      (f) Placing orders with other entities for execution that result from decisions by the capital market service provider to deal on behalf of its client;

      that are required to be maintained by the capital market service provider as per the CBB rules, regulations and directives.

      Amended: July 2021

    • MIE-A.4.10

      All capital market service providers must take reasonable steps to retain and protect the records referred to in rule MIE-A.4.9:

      (a) Apart from complying with various requirements relating to record keeping, as per CBB Law, rules and regulations and other applicable laws, rules and regulations, the recordings of telephone conversations and electronic communications, including facsimile, email and other instant messaging devices relating to their activities in the securities market must be retained for a period of at least twelve months from the date the record was created;
      (b) [This subparagraph was deleted in July 2021];
      (c) In a medium that allows the storage of the information in a way accessible for future reference by the CBB, and so that the following conditions are met:
      (i) The CBB must be able to access the records readily and take copies;
      (ii) It must be possible for any corrections or other amendments, and the contents of the records prior to such corrections and amendments to be easily ascertained;
      (iii) It must not be possible for the records to be otherwise manipulated or altered.
      Amended: July 2021