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Record Retention

What is the standard for record retention of client information, 5 years, electronic or hard copy? I keep seeing question's on this, but dont see it explicitly stated anywhere... anyone?

If you read the actual AMC it says 7.

NO EXCUSES

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Ok, good to know. Asset Manager is 7 - just finished rereading that on the bus this morning and wondered why it was 6.

7.

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7 years is a recommendation...

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volume 1 question 60.
Vinken's policy is to maintain 5 years of records and the answer has this as correct.

is it only becuase he was manager for only those five years - do you not have to keep docs from prior managers?

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yeah... check the errata.

no more 6 years!! even asset manager code is 7 years now!!!

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Why wouldn't they make the asset manager code 7 as well? The AMC states "unless otherwise required by local law or regulation, managers should keep records for at least 6 years" I cant stand these little inconsistencies
CFAI
Appendix 6 pg 277

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good to know! thanks sir.

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there has been an entry in one of the errata dated 27h april on AMC.

7 years is FINAL

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6 in the Asset Manager Code Gents. 7 in the SOPH

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