 |
 |
I have loosely followed the discussion on the RECMGMT-L list regarding permanent records and have been hoping that this topic would be no more than a passing interest. I have not been that lucky! I have been asked to draw up a retention schedule for the part of our company that manages trust funds for individuals. I have got to grips with most of the detail but there are still bugbears that I would like to try and clarify or even just make less vague. I understand the Trust Deeds should be retained "permanently" but again this raises the issue of "how long is permanent". I appreciate that this could mean the life of the company, but the company I work for is already 250 years old. Whilst we do not have any "live" records this old we certainly have a few items in excess of 100 years old. I am considering implementing a retention that states something along the following lines "Retain for 50 years post client then review". Does this seem reasonable? Should I still make sure that the trust deeds and associated documents are scanned before destruction? I could then at least go for a "best evidence" scenario should it all go horribly wrong. This also leads on to the question of trust account correspondence. This I believe should just be a case of retaining "12 years post client" as this covers the Limitation Act. I have no formal training in this arena so I guess all I'm looking for is just someone to turn round and say "sounds reasonable" or even "what on earth are you going on about"! Either way I would really appreciate hearing everyone's opinion. Thanks in advance. Chris Everett <body> <blockquote> <font FACE="Arial,Arial" SIZE="1"><p ALIGN="JUSTIFY">IMPORTANT NOTICE: This transmission has been issued by a member of Baring Asset Management("BAM") for the information of the addressee only. It may contain information that is confidential and/or privileged and should not be reproduced and/or distributed to any other person without the consent of BAM. Any document attached hereto must be read in conjunction with any disclaimer which forms part of it and you are advised to read the additional notifications which can be accessed from the URL below. If you are not the intended recipient please contact the sender and delete the e-mail from your system. E-mails are susceptible to data corruption, interception, falsification, delay, unauthorised amendment and viruses. BAM does not accept liability for any such events or any consequences thereof in respect of e-mails sent, or received, by us and whilst we have taken every reasonable precaution to ensure that any attachment to this e-mail has been swept for viruses, we cannot accept any liability for any loss or damage sustained as a result of software viruses and would advise that you carry out your own virus checks before opening any attachment. In circumstances where the content of this transmission is important you should not rely on its integrity without verifying it by telephone or facsimile. Any communications transmitted by telephone, facsimile and e-mail to, or by, you may be accessed, recorded, monitored and/or made available to BAM <a href="http:[log in to unmask]">http:[log in to unmask]</a></font></p></body> </p> </font> </blockquote> <p> </p> </body> </html>