Insurance licensees must retain copies of the reports produced for their annual compliance review, as specified in Paragraph FC-3.3.1, for at least five years. Licensees must also maintain for 5 years reports made to, or by, the MLRO made in accordance with Sections FC-4.1 and FC-4.2, and records showing how these reports were dealt with and what action, if any, was taken as a consequence of those reports.