The Consumer Protection Code requires an insurance intermediary to keep records of a fact find for what minimum period after the date the fact find was completed?

• A. 3 years.
• B. 5 years.
• C. 6 years.
• D. 7 years.

Answer: (C)

Records of a client’s fact-find are kept to prove the advice given was suitable and to show regulatory compliance. The minimum period to hold those records is six years after the date the fact-find was completed because this keeps the documentation available through the window in which disputes, complaints, or regulatory inquiries are most likely to arise, and it aligns with the typical limitation period for such actions. Keeping six years provides a practical balance between having enough time to address potential claims and not retaining records longer than necessary. Shorter periods would risk losing evidence if a complaint or review surfaces, while longer periods aren’t required by the code. Therefore, six years is the correct minimum retention period.