The Financial Services industry is now required to be operating under the increased compliance requirements of MiFID II which came into force on 3rd of January 2018.
Investment firms must now arrange for records to be kept of all services, activities and transactions undertaken including recordings of telephone or electronic communications. They must be able to provide these records to the regulator on request, keep them in a durable medium with defined retention periods and be able to retrieve and reconstruct each key stage of a transaction.
Playing a part in the deterrence and detection of market abuse, firms must now also monitor and review the records of telephone and electronic communications on a regular basis giving due regard to any emerging risks.
HOW CAN WE HELP?
Capture everything: back office, front office and mobile communications – audio calls, video calls, IM, SMS and PC screens, across phones, mobiles, turrets and PCs.
Manage your retention policy and have simple and easy control over your storage infrastructure, including flexible local and networked storage options.
Easily find records, reconstruct trades and control who can replay recorded communications with a secure and traceable way for managers to approve and decline replay requests from users.
Monitor your entire set up of servers/telephony systems which can be provided as a management tool for your IT team or delivered as a fully managed service from Red Box Recorders.
Enable detailed and comprehensive analysis of calls to spot trends and potential risks using our transcription service. Allow scheduled and ad-hoc quality spot checks with forms that can be built in line with your requirements and based on specific templates.
ABOUT THE WHITEPAPER
Red Box has pulled together a white paper detailing attitudes, preparedness and concerns of other businesses around MiFID II implementation and where we see the potential issues and primary opportunities for businesses to ensure compliance, but to also make solutions work beyond compliance. By putting in systems that will help to unlock the true potential of the data they collect, organisations will able to leverage valuable insight to improve performance and customer experience.
DOWNLOAD THE WHITEPAPER
Find out how other companies are doing and what you need to do to ensure compliance.
View the guide to: