According to the Consumer Protection Code, the minimum retention period for a client fact-finding record is six years.

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

Answer: (C)

Retention of client fact-finding records is required to keep a verifiable trail of the client’s needs, circumstances, and the reasoning behind recommendations. The Consumer Protection Code sets a minimum retention period to ensure records are available for regulatory review, potential disputes, and to align with the time limits for making or defending claims about advice given. Six years is the minimum because it generally covers the period during which a client might bring a complaint or a claim and corresponds to common limitation periods in civil actions related to financial advice. In practice, you keep the record for six years after the last contact or after the relationship ends, and you may extend the retention if other regulatory or legal obligations require longer keeping.