ACI Dealing Certificate (#384)

Which of the following does the Model Code mention with regards to recording telephone conversations?

There is no need to inform new counterparties and clients that conversations will be recorded.
It is normal practice that tapes and other records should be kept for at least twelve months.
The periods for which tapes and other records should be retained should reflect the way in which the terms and conditions of transactions have been agreed, and the duration of transactions.
Dealers and other staff are reminded that telephones and electronic text messaging systems in the firm are intended for business and private use and that conversations and exchanges of text messages should be conducted in a casual manner.