Final answer:
Health Canada follows specific guidelines for retaining records, such as reporting adverse drug events within specific timeframes.
Step-by-step explanation:
Health Canada is responsible for regulating health products and therapeutic treatments in Canada. In terms of retaining records, Health Canada follows specific guidelines based on the type of record. For example, for adverse drug events, sponsors are required to report unexpected serious and fatal events within 15 days, and other events on a quarterly basis. The FDA also receives reports through the MedWatch program. These reports are voluntary, and the process helps in monitoring and evaluating the safety of health products.