Call recording – Are you MiFIDII ready?

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As of the 3rd January 2018 current MiFID legislation will be expanded meaning that all businesses in the financial sector must record all their calls, including mobile calls and all recordings must be held for at least 5 years.

Every financial business must comply, regardless of size and there will be severe penalties for noncompliance.

Who will be affected?

  • Investment firms
  • Credit institutions
  • Portfolio managers
  • Broker-dealers
  • Stock brokers
  • Corporate finance companies
  • Market operators
  • Central counterparties
  • Data service providers

Points to consider:

  • MiFIDII applies to ALL financial businesses, regardless of size
  • All calls, including mobile calls, must be recorded.
  • Recordings must be held for 5 years
  • The deadline won’t shift again – and there are severe penalties for failing to comply

 

How can I ensure compliance?

Our recording platform have been built with the latest cloud technologies, enabling complete compliance and security. Each user can record every call they make, and endless storage ensures your recordings will be held for the minimum 5 years required by MiFIDII legislation.

And our recording platform does so much more too, and has been built with the concept to help with team collaboration, and top enable every user achieve more from their calls. Click here to find out more about call recording or contact us to discuss how we can aid your compliance in more detail.