Firms need consistent mechanisms to capture, retain and reproduce records
Thompson, regional director of Smarsh UK, a compliance
expanded requirements for record-keeping are arguably one of
the more significant changes that will be unveiled as part of
the Markets in Financial Instruments Directive (Mifid) II. And
yet it appears businesses may be overlooking this aspect.
Perhaps the fact that the new rules are subject to increasing
delays is to blame. But whatever the reason it is time for
businesses to act now and prepare for Mifid II is
of the new rules, firms will need to have consistent mechanisms
in place to capture, retain and reproduce complete records of
all services, activities and transactions on both firm
and client accounts. And here’s the new
part… this now applies to fixed and mobile telephone
calls and all electronic communications, irrespective of
whether the communications result in a client transaction or
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