MiFID II

While current regulations stipulate a requirement to record mobile phone calls for those operating within certain remits of financial services (specifically traders), MiFID II has introduced a wave of enhancements that have overhauled every facet of call recording; from the storage duration, to the use of recordings, through to enforcing call recording on organisations who previously were exempt.

Key changes to mobile voice recording under MiFID II:

1

MiFID II stipulates that calls must be recorded for anyone in the “advice chain” that could lead to a trade.

2

The retention period for call recording data is increasing from six months to a minimum of five years.

3

Demonstrate to regulators that recording data can be retrieved quickly and easily for a specific transaction or within a given time period.

Mobile Call Recording

If you’re reviewing mobile call recording in light of MiFID II, you need a proven solution that will meet regulatory guidelines, offer simplicity for users and compliance officers, and be as cost efficient and scalable as possible. You also need a vendor who can simplify the process of procurement, provisioning, billing and provide ongoing support for the solution, mobile devices and network airtime.

Partnering with Natterbox and EE, Adam Phones has been delivering secure, compliant mobile call recording solutions to FCA regulated companies for over five years. Our solution ensures calls are recorded at network level, with no mobile device applications required; this guarantees compatibility with any mobile device, with no change to user behaviour.

Mobile Call Recording

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Key Features

Key Features

Key features

  • Fully compliant hosted solution
  • Calls recorded in-line, at network level
  • Compatible with any mobile device
  • Encrypted, cloud based solution
  • Geographically redundant storage
  • Multi-factor authentication access to recordings
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Key Benefits

Key Benefits

Key benefits

  • No hardware to install and maintain
  • No mobile apps to install
  • No call degradation, delays or forwarding
  • No reliance on data usage to send recordings to a centralised system
  • No change to user experience
  • Single contract for airtime, licensing & devices
  • Single contact for provisioning, support & billing
To learn more, download our product data sheet

How MiFID II can better your business

MiFID II has kick-started the largest market reform in over a decade, overhauling nearly every aspect of trading. It enables stronger identification of market abuse, injects more transparency and reduces conflicts of interest. It also presents your business with an opportunity to develop.

Our Commercial Director, Lee Robertson, discusses how to evaluate mobile and fixed line call recording solutions, and how there is more to MiFID II than simply meeting compliance.

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DOWNLOAD OUR LATEST ARTICLE -
GOING BEYOND THE REGULATOR; HOW MIFID II CAN BETTER YOUR BUSINESS

Security

Mobile voice recording from Adam Phones delivers a complete toolkit for the compliance officer.

All calls are encrypted with a 256bit key unique to your organisation. The encrypted media is then sent for storage via dedicated links to dual, geographically separated data centres and replicated to multiple storage devices.

A secure online portal allows compliance officers to set recording, blocking and redirection policies, and provides nominated ‘data custodians’ with instant, audited access to call recordings.

To learn more, download our security overview

Compliance officer confidence

Data access

Restrict access to call recordings to defined IP addresses

Data
access

Multi-factor authentication

Enforce multi-factor authentication to enhance security

Multi-factor
authentication

Call recording playback

Download call recordings or enforce media streaming

Call recording
playback

Inactivity timeout

Prevent accidental system exposure with inactivity timeouts

Inactivity
timeout

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Our Credentials

For over 30 years, Adam Phones has been creating award-winning mobile and fixed line solutions for clients across the globe. We’re trusted by organisations that include international government agencies, alternative investment firms and FCA regulated insurance providers.

By uniting a diverse range of products and services under our umbrella, we completely remove the complexity of negotiating different supplier agreements and varying contractual terms – and the headache of account managers, support staff and billing from individual sources.

Our Credentials

It’s a recipe that works and it’s why Adam Phones supply telephony solutions to over 35 per cent of London’s alternative investment market. We understand what it takes to support the financial services industry, and we’ve won awards for doing it.

  • Contracting

  • Provisioning

  • Billing

  • Reporting

  • Mobile Tariffs

  • Devices

  • MVR Licences

  • Account Management

  • Technical Support

  • Deployment

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Articles

MiFID II has landed, so what’s next and is it ‘mission accomplished’?

After seven years, the second iteration of the Markets in Financial Instruments Directive (MiFID II) is finally here. It kicks-starts the largest market reform in over a decade; which will overhaul nearly every aspect of trading and aims to heed the lessons learnt from the financial crisis through increasing transparency and moving trading towards a more structured marketplace. ...

read more.

MiFID II is coming, is your mobile policy ready?

It’s now only a couple of weeks until MiFID II is officially introduced, so what can firms still do to prepare themselves? By now, most firms will be implementing call recording– hopefully using a solution that ensures compliance, retains call quality, provides ease of use and has adequate storage requirements. However, have you considered what’s ...

read more.

What financial firms should be doing in light of the FCA’s final ruling on the impending MiFID II

It’s now less than a month until the introduction of the Markets in Financial Instruments Directive II (MiFID II). The EU is counting down to the new regulations, which will overhaul nearly every aspect of trading; and with the release of the final policy statement, firms now have a full understanding of how The Financial ...

read more.

Only a month to go: The changing role of the asset manager from MiFID I to MiFID II

Four areas asset managers need to tackle before 3 January 2018 It’s now just over a month until MiFID II is officially introduced, it ceases to be just a scary acronym and becomes a part of our daily working lives. Understanding how your firm and your asset managers’ role needs to change is of the ...

read more.

Adam Phones features in HFM Special Report – Best Practice 2017 for MiFID II offering

Ahead of MiFID II, how can companies ensure the call recording technology they choose will be compliant with the new regulations? In less than four months’ time, the way capital markets operate in Europe will undergo significant change. With MiFID II regulations set to arrive on 3 January 2018, many organisations are running out of ...

read more.

It’s the final countdown… how can you prepare early for MiFID II compliance?

It’s now less than six months until the deadline for companies to be compliant with MiFID II. The new directive will apply to many more organisations than before, while there are still deliberations taking place on the unbundling of research. For some organisations, the deadline of January 2018 is encouraging them to view the end ...

read more.

Ten years on: the impact of the smartphone evolution on MiFID II compliance

It might be hard to believe, but the iPhone has been with us for ten years. First announced on the 9th June 2007, it was officially available on 29th June the same year. While initial reviews were not positive on how well the device performed as a phone, Apple’s continued innovation has led to the ...

read more.

Preparing for MiFID II – Getting the right skills in place for compliance planning

MiFID II will come into force on the 3rd of January 2018. For those of you who have never considered compliance around retention of records, there are several steps that have to be taken. In the fifth blog in our MiFID II series, we will discuss the stages before, during and after the deadline and ...

read more.

HFM’s special report MiFID II 2017 released

The MiFID II regulations are quickly approaching but many companies are facing challenges in being ready for 3 January 2018. There are few within the industry who are unaware of the impending arrival of MiFID II – however, not all organisations know where to start when it comes to preparing for its arrival. As we ...

read more.

Preparing for MiFID II – choosing the right mobile call recording solution

The countdown is on until MiFID II compliance is required for the financial services industry, and one essential element of the legislation is mobile call recording. MiFID II can make for heavy reading, so it’s critical that you choose a call recording solution that will ensure you are 100% compliant with the directive. In the ...

read more.

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