ARE YOUR CUSTOMERS AWARE OF MiFID II LEGISLATION?
The Markets in Financial Instruments Directive is the EU legislation that regulates firms who provide services to clients linked to ‘financial instruments’. MiFID II legislation requires any company or employee to record all calls, across mobile and fixed lines that include financial advice that could lead to a trade.
5 key requirements of MiFID II
- Record and keep calls containing financial advice
- Recordings stored for 5 (or 7) years
- Secure and restricted access
- Retrieval upon request
- Audit Trailing individual recording activities
Here at Pen Telecom we would be happy to advise you on how to get set up with the relevant technologies needed to comply with this new legislation.