Lesson 6 of 7 · All lessons in this module
- Standard V: Investment Analysis, Recommendations, and ActionsVideo lesson
- Standard V(A) cases: reasonable basis and outside research
- Standard V(A) cases: models, advisers and providers
- Standard V(B) cases: services, costs and process changes
- Standard V(B) cases: risks, limitations, facts and opinions
- Standard V(C) cases: records and retention
- Standard V cases: what the 2027 text adds
This lesson is part of the 2027 curriculum. You are following the 2026 curriculum, where it is not taught in this form. Switch if you are sitting the exam under the 2027 curriculum.
Lesson 6 of 7 · 13 min
Standard V(C) cases: records and retention
If you cannot show what you looked at and why you acted, you cannot prove you were diligent: keep the support in whatever format it arrives, and remember it belongs to the firm.
In short
- Keep records that substantiate the scope of research and the reasons for actions, including reviews that led to no trade; what is required depends on your role.
- Format is irrelevant: hard copy or electronic, and emails, texts, blog posts and social-media posts all count. Where policy lags new channels, more falls on the individual.
- Records created for the employer are the firm's property: no originals or copies leave with you without express consent, and old recommendations cannot be reused unless support is recreated.
- Follow regulation and firm policy on retention; absent both, CFA Institute recommends at least seven years.
- The firm usually holds the master records, but individuals must archive the notes and documents that support their current communications.
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