What records must be maintained for investment research according to relevant rules?

Maintaining investment research records for a period of five years aligns with the regulatory standards set forth in the UK, particularly by the Financial Conduct Authority (FCA) and other relevant authorities. This requirement ensures that firms can provide evidence of their research processes and decision-making in the event of scrutiny or regulatory review. The five-year timeframe allows for a sufficient historical context to analyze the performance and applicability of the research, which is crucial for compliance, transparency, and accountability within financial operations.

This duration is established to balance the need for firms to retain necessary documentation without requiring indefinite storage of records, which could impose excessive burdens in terms of cost and management. Additionally, this timeframe serves to protect consumers and investors by ensuring that they have access to adequate records should disputes or assessments arise regarding the firm’s previous advice or actions based on that research.