(1) Where an investment firm has carried out an order, other than for portfolio management, on behalf of a client, the firm shall take the following action in respect of that order:
(a) the firm must promptly provide the client, in a durable medium, with the essential information concerning the execution of that order;
(b) in the case of a retail client, the firm must send the client a notice in a durable medium confirming execution of the order
(i) as soon as possible and no later than the first business day following execution, or
(ii) if the confirmation is received by the investment firm from a third party, no later than the first business day following receipt of the confirmation from the third party.
(2) Paragraph (1)(b) does not apply if the confirmation would contain the same information as a confirmation that is to be promptly dispatched to the retail client by another person.
(3) Paragraphs (1)(a) and (b) do not apply if orders executed on behalf of clients relate to bon