Which of the following does the Model Code mention with regards to recording telephone conversations?
A) There is no need to inform new counterparties and clients that conversations will be recorded.
B) It is normal practice that tapes and other records should be kept for at least twelve months.
C) The periods for which tapes and other records should be retained should reflect the way in which the terms and conditions of transactions have been agreed, and the duration of transactions.
D) Dealers and other staff are reminded that telephones and electronic text messaging systems in the firm are intended for business and private use and that conversations and exchanges of text messages should be conducted in a casual manner.

Question

Quizplus · Accepted Answer

The Model Code mentions that the periods for which tapes and other records should be retained should reflect the way in which the terms and conditions of transactions have been agreed, and the duration of transactions. This means that the length of time recordings need to be kept will vary depending on the transaction and agreement. Option A is incorrect because counterparties and clients should be informed that conversations will be recorded. Option B is incorrect because the Model Code does not specify a specific length of time that tapes and other records should be kept for. Option D is incorrect because the Model Code emphasizes the importance of conducting business communication in a professional manner, rather than a casual manner.

Which of the Following Does the Model Code Mention with Regards