MiFID II AND THE REQUIREMENTS FOR CALL RECORDING

General FAQs: MiFID II and MiFIR

We answer the most frequently asked questions by finance companies looking for information about the requirements for call recording. If you can 't find the answer you're looking for, get in touch - our team will be happy to help. Our PDF is also available here. 

• What are the aims of MiFID II?

  MiFID II has the goal of establishing trust, transparency and equality between the investor and consumer. The regulations create this by increasing investor protection and the integrity or the market overall, introducing supervisory powers, utilising technology, and setting high standards for management competence.

• Does my business fall under MiFID regulations?

  MiFID II applies to any businesses that fall within the financial sphere. This includes:

  Investment firms

  Trading venues

  Companies providing pension services
  

  Banks

  Brokers

  Generally, if you believe your business might fall under MiFID II compliance, it probably does - which means that you should take action.

• Why should I switch to a UC solution instead of using another means of call recording?

  Other call recording solutions are often expensive, and provide your business with low-quality recordings that may be difficult to access in an emergency, as well as requiring both physical and virtual storage space. Alternatively, our UC platforms are all-encompassing and guarantee a secure and high-calibre form of protection.
  
  
  
  

   

• How can Your Comms Group help?

  – Cloud technology

  Our Unified Communications solutions utilise cloud technology. This ensures that your data is secure, accessible and can be accessed from any location.

  – Security

  Our software uses sophisticated and bespoke encryption algorithm. These make sure that your files are protected, fight off bugs and malware and provide alerts if data has been manipulated.

  – Storage

  Thanks to our cloud-based platform, you can store incredible amounts of data without loss or damage, more so than when using any on-premise hardware.

  – Scalability

  Our call recording solution is designed to be scalable. Whether your business is a small start-up or enterprise standard, we specialise in efficiency and affordability.

  – Analytics

  Your Comms Group's analytics provide your company with valuable insights into performance.

  – Data retrieval

  Access your cloud data at any point. The lack of limits that come with on-premise hardware means that you can listen to your recordings from your office, or halfway around the world.

• What does Brexit mean for MiFID II?

  The UK still falls under MiFID II regulations from 2018, despite Brexit action. View the FCA's statement here. 

   

• Why is your service different from others?

  When you work alongside Your Comms Group, we guarantee a strong business relationship between yourself and our team. We work hard to provide the best solutions and advice for your company, including MiFID II and all related solutions.

  We are here to lend a helping hand with the migration process to your new Unified Communication solution, or provide any extra support or guidance. Get in touch with our experienced team today.