MiFID II – The game changing regulation
Of all the regulation levied on banks and financial institutions since the crash, MiFID II looks set to have the greatest impact.
Despite some lack of clarity over the finer detail, one thing’s for certain – when the directive does come into force, the regulator won’t stand for any errors in trade or transaction reporting.
Linx-Networks & TeleWare have partnered to meet these tough new European wide trading regulations that the trader voice floors will face once MiFID II comes into full effect in 2018.
Mobile SIM RECORDING for comprehensive compliance: MiFID II
TeleWare’s Mobile SIM is the most popular mobile call recording compliance product in the world. Because it’s a SIM, users aren’t even aware of its presence, making it really easy to use. Recordings are stored in the TeleWare cloud for simple access worldwide. If the customer prefers mobile calls can also be sent and stored direct to their on site recorder. When combined with our Mobile Management solution, it can be used to enhance your entire mobile estate. Another important feature is the monthly reporting function, which is invaluable for compliance reporting and highlighting cost savings.
Guaranteed trader voice recording and mobile recording to meet all compliance requirements.
At a glance benefits for Mobile SIM
It’s flexible and compliant, supports training, governance and improves productivity It has multiple recording, storage and retrieval options It’s secure, with optional security settings that can be customized and exceed current compliance standards Advanced encryption makes sure only nominated individuals can access the recordings, It also integrates seamlessly with existing systems At a glance benefits for On-Demand It’s spontaneous, so you can capture valuable information when you need to It’s flexible, as you can choose what to record and how and when to retrieve the information Increases productivity.
MOBILE VOICE AND SMS RECORDING ENABLES
BUSINESSES TO RECORD ALL VOICE AND SMS COMMUNICATIONS
A growing number of organisations offer their employees flexible working and as a result, mobility is a well-established aspect of working life. Organisations need to ensure that flexible workers are able to work in an efficient, productive and effective manner whilst meeting business requirements; this could include complying with regulations, record keeping and capturing information for training and quality purposes. It is therefore important that businesses provide mobile technology that meets the needs of employees, customers and regulators alike.
Recording fixed line communications are well established as an effective tool for businesses to help increase productivity, improve customer experience and meet a range of regulatory requirements. However, until recently, most businesses have not treated mobile communications in the same way.
Financial Conduct Authority (FCA) regulations in the UK changed in 2011, meaning that mobile as well as fixed line communications relating to the sales of some financial products needed to be recorded. Following this, many businesses started to look at how they could use the burgeoning technology to further improve business performance.
Mobile Voice and SMS Recording enables businesses to record inbound and outbound calls, together with SMS communications, wherever workers are. The benefits can apply to most businesses, across a variety of sectors.
Examples include:
GENERAL
Liability protection
Dispute resolution
Employee evaluation, training and
quality management
Recording verbal agreements
FINANCIAL SERVICES
Meeting regulatory requirements including
FCA and Dodd Frank
Helping to prevent employee wrongdoing
Helping to improve brand trust
LEGAL
Tracking billable hours for legal professionals
Client recording during discovery process
HEALTHCARE
Tracking response times
Monitoring care provided by remote workers
Helping ensure patient privacy
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