1. The records shall be retained in a medium that allows the storage of information in a way accessible for future reference by the competent authority, and in such a form and manner that the following conditions are met:
(a) the competent authority is able to access them readily and to reconstitute each key stage of the processing of each transaction;
(b) it is possible for any corrections or other amendments, and the contents of the records prior to such corrections or amendments, to be easily ascertained;
(c) it is not possible for the records otherwise to be manipulated or altered;
(d) it allows IT or any other efficient exploitation when the analysis of the data cannot be easily carried out due to the volume and the nature of the data; and
(e) the firm's arrangements comply with the record keeping requirements irrespective of the technology used.
2. Investment firms shall keep at least the records identified in Annex I to this Regulation depending upon the nature of their activiti
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