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Investment business: destruction of files

15 May 06

Practice note with revised policy on retaining files in relation to endowment business

In January 2003 a practice note from the Professional Practice Committee in respect of retaining files in relation to endowment business was published. The matter has been reviewed by the Committee who have agreed that firms should retain all files in relation to endowment business until such times as the policy in question would have matured, whether or not it has been surrendered beforehand. This replaces the practice note published in January 2003.