MiFID II AND THE REQUIREMENTS FOR FINANCE COMPANIES

General FAQs: MiFID II and MiFIR

If you are looking for answers to the frequently asked questions by finance companies looking for insight into the requirements for call recording, you are in the right place. Can't find what you are looking for? Get in touch or take a look at our free PDF download.

• What is the intent of MiFID II?

  MiFID II exists with the purpose of establishing greater equality and trust between the business and client. It sets higher standards for management procedures and makes sure that every party involved in the process is entirely protected and engaging in honest communications.

• Does my business need to comply with MiFID?

  MiFID II applies to any financial business, such as:

  Investors

  Traders

  Pension services
  

  Banks and brokers

• Should I switch to unified communications or can I use another system for call recording?

  Unified Communications platforms provide a much more secure, versatile and high-quality form of call recording solution. Whilst alternative solutions are available, they are often much more expensive and can provide recordings that aren't fit for purpose, which could lead to legal repercussions down the line. 

• What can Your Comms Group provide to help?

  – Cloud solutions

  We provide UC solutions that utilise cloud technology, keeping your data secure and remotely accessible.

  – Efficient security

  Keeping your data protected is essential. Software provided by Your Comms Group is updated with the most modern forms of encryption in order to make sure that your files are secure at all times.

  – Storage

  Our UC platform provides storage without limits.

  – Scalability

  Whether your business is in its start-up stage or enterprise standard, our call recording solutions never discriminate. Built to be scalable, our UC platform is affordable and customisable for all teams.

  – Analytics

  Our platform provides valuable analytics that allow you to obtain insight into how your company is performing.

  – Data retrieval

  Access your recordings from your office or anywhere else on the globe with remote data retrieval.

• Has Brexit affected MiFID II?

  Despite Brexit action, MiFID II rules still apply to businesses in the UK. View the FCA's statement here. 

   

• What makes Your Comms Group different?

  At Your Comms Group, we are here to support you every step of the way. With outstanding customer service, we guarantee a reliable working relationship between us and your team. Our goal is to provide the best solutions and intuitive advice related to MiFID II and any of our other services.

  We will support you every step of the way throughout the migration process from your current system to our Unified Communications platform. Get in touch with our team today.