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March
2009
FSA’s
new call recording regulations for UK companies
Under regulations introduced by the Financial Services Authority (FSA) 6th
March 2009 UK financial institutions now have to record and store telephone
conversations and electronic communications relating to client orders. Firms
will have to record all telephone conversations and electronic communications
involving client orders for the equity, bond and derivatives markets and retain
the files for six months. Electronic communication includes e-mail, instant
messaging and faxes.
The FSA has applied an exemption to recording voice conversations on mobile
phones and other handheld devices for the next 18 months, claiming that technology
required to tape and store mobile phone conversations is new and untested.
ArcAngel Technology is in a position to be able to offer systems to record
mobile phones which will ensure that each and every call made or taken will
be recorded without control or intervention by the user.
