Call Recording for IFA's - MiFID II Level 1
From the 3rd January 2017 Independent Financial Advisors (IFA's) and staff who are involved in providing financial advice need to comply to a new MiFID II Level 1 directive, which states that all telephone calls or electronic communications with clients or potential customers need to be recorded and kept. MiFiD II places an obligation on firms themselves to record telephone conversations with clients where there is an "intention to conclude a transaction". MiFID level 1, also states that records must be kept for five years, and up to a further two years where the 'MiFID II Member State national competent authority requests'.
Berry Telecom work with financial companies across the UK of all sizes providing feature rich business phone systems with call recording that meet these new levels of compliance. If you are looking for an easy to use, cost-effective phone system with call recording do get in touch. We can remove the mystery of call recording and ensure all staff have an easy to use, secure phone system which enables encrypted recording and has an easy to use search facility to find calls at a later date.
Whether you have a small office or work across multiple sites, Berry Telecom can help your business meet MiFID II Level 1 Call Recording requirements. Get in touch with one of our helpful team on 0330 222 0332 to find out more.