Home FCA Handbook COBS COBS 16A COBS 16A.2 General client reporting and record keeping requirements
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COBS 16A.2 General client reporting and record keeping requirements

01/10/2018R
  1. (1)

    A firm must provide a client with adequate reports on the service provided in a durable medium.

  2. (2)

    The reports must include:

    1. (a)

      periodic communications to the client, taking into account the type and the complexity of the financial instruments or insurance-based investment products involved and the nature of the service provided to the client; and

    2. (b)

      where applicable, the costs associated with the transactions and services undertaken on behalf of the client.

[Note: article 25(6) of MIFID, article 30(5) of the IDD]

01/10/2018G

A firm should refer to SYSC 3.2 (for insurers and managing agents) and SYSC 9 (for other firms) for the requirements that apply in relation to the retention of records.

23/10/2025G

A firm to which SYSC 9 applies is required to keep records of all services, activities and transactions undertaken by it.

23/10/2025R

In complying with the requirements in SYSC 9, a firm to which those rules apply must keep a record of each report provided to a client in compliance with the rules in this chapter applicable to MiFID, equivalent third country or optional exemption business.