The Markets in Financial Instruments Directive is the EU legislation that regulates firms who provide services to clients linked to ‘financial instruments’ (shares, bonds, units in collective investment schemes and derivatives), and the venues where those instruments are traded.
What does that mean to you and how can we help you?
Do you give financial advice over the telephone?
All calls now must be recorded, and the data stored securely. If those calls aren’t stored securely, you’re gambling 15% of your turnover as a fine after 3rd January. It’s OK though, we can help. We can set up a hosted phone service that includes shipping new IP handsets to you for delivery next business day. Combine this with a call recording system that automatically records all calls and stores them securely for five years, while also meeting PCI requirements, and you will be compliant for considerably less than 15% of your turnover.
Unlike legacy call recording solutions that require hardware installation, the costs of which are generally very high, requiring expert personnel, software licenses and the hardware itself, as well as maintenance contracts, our cloud-hosted call recording systems take all that worry away and are more secure than an on-site arrangement. The calls themselves can be searched, tagged, filtered, shared and downloaded using a very intuitive online platform.
To find out more about how you can benefit from this MiFID II-compliant, flexible system that will future-proof your business, contact us now via the form below to discuss your requirements!
We are also holding a free informational event on MiFID II at the Innovation Centre Medway, on Wednesday 6th December at 13:30.