Subject Title - INSETA

the provider must alert the client as soon as reasonably possible ofthe clear existence of any risk to the client; andmust advise the client to take care to consider if any product selectedis appropriate to the client‟s needs, etc.8.6.2 Recording the adviceA provider must, subject to and in addition to the duties to keep records,maintain a record of the advice furnished to a client, including thefollowing: 791. A brief summary of the information and material on which the advicewas based.2. The financial products that were considered.3. The financial product or products recommended with an explanationof why the product or products selected, is or are likely to satisfy theclient‟s identified needs and objectives.4. Where the financial product or products recommended is areplacement product, the following must be recorded: 80 Comparison of fees, charges, special terms and conditions,exclusions of liability, waiting periods, loadings, penalties,excesses, restrictions or circumstances in which benefits willnot be provided, between the terminated product and thereplacement product; and the reasons the replacement product was considered to bemore suitable to the client's needs than keeping or modifyingthe terminated product.5. The record of advice needs only be maintained if, as far as theprovider knows, a transaction or contract is concluded by the clientas a result of the advice given. 816. A provider, except a direct marketer, must give the client a copy ofthe record of advice in writing. 828.6.3 Recording the advice for forex investment businessA forex investment adviser must, subject to and in addition to the duties tokeep records, maintain a record of the advice furnished to a client, including:79 Sections 9(1)(a) to (c) of the General Code80 Section 9(1)(d) of the General Code81 ibid82 Section 9(2) of the General Code© INSETA - Section 1 12a 153