With so many different mobile call recording approaches available, it’s easy for buyers to be bamboozled, or mistakenly assume all solutions are similar. In our latest blog we look at five key considerations to explore with prospects that are yet to implement a solution or looking for an alternative. Read more Roaming Financial services staff are an itinerant bunch. We should know: so far our users have roamed across 120 countries and 450 networks. Not
Read more →In a month that saw the South East’s first and only snowfall, players and spectators at Compliant Phones inaugural London Club Classic were dished a sun-kissed golfing feast at the London Golf Club in Ash, Kent. In the blue-ribbon team event, competition was fierce, with just 13 points between top and bottom. Forming an unlikely transatlantic banking alliance, it was the Chandler-Punchard-Brown-Hawkes quartet who harmonized like the Nolan Sisters to produce an impressive 83 Stableford
Read more →This blog first appeared in Financial Technologies Forum Global regulators align around FSA mobile call recording regulation This Monday (14th November), an important regulatory and operational milestone for firms operating in the capital markets will be reached in the UK. The Financial Services Authority (FSA) finally mandates the recording of transaction-related communications to and from staff mobiles. Despite criticism from banks that the regulation is an unnecessary burden that requires the deployment of relatively immature
Read more →Last week a survey commissioned by Orange Business UK announced that eight out of ten UK medium and large financial firms were unaware of the Financial Service Authority’s (FSA) impending mobile recording regulations. While this conclusion does seem surprising to say the least, there is, nonetheless, still some ‘misunderstanding’ in the market. One issue linked to the implementation date, as I’ve written about previously, concerns the FSA’s resolve to stick to the Monday 14th November
Read more →Buying something because you have to is no fun. In this regards, many of today’s first and second-generation mobile call recording systems currently being implemented by investment banks are, frankly, dull. They may help you meet the FSA phone recording regulations. (Provided you pick the right one.) They may move your governance controls up a notch. (If you can retrieve and use the stored data intelligently.) To use sales parlance, you avoid a pain; but where’s the
Read more →Speaking to prospects and customers about their experiences in trialing and using different mobile-recording systems, I’m surprised by some of the myths that I hear. If you’ve still not implemented a mobile recording system to meet the Financial Service Authority’s 14 November deadline for the recording of mobile calls, then here’s a few debunked: Myth 1: SIM-based solutions are easier to set up and manage than app-based systems Not the case. SIM-based mobile-recording solutions require
Read more →Oh to be in the UBS compliance team this week. With news that another “rogue trader” has slipped under the radar in such spectacular fashion—at a time when the world’s banking system is in such a fragile state—the spotlight is thrown yet again on governance and oversight. Whether as deterrent or detector, the introduction of the Financial Services Authority (FSA) mobile call recording regulation PS10/17 on Monday 14th November 2011 will fill an important gap
Read more →Last week saw the UK Financial Service Authority’s (FSA) latest win in its war against market abuse when it announced that it had imposed an £8m fine on Swift Trade for layering—a practice of placing large orders that the trader has no intention of completing. This is the eleventh insider-dealing conviction since March 2009 when Hector Sants, the FSA’s Chief Executive, made clear its commitment to take a tough stance to market abuse, warning that:
Read more →Conference call based solutions are one of the main types of mobile recording solutions available to firms that need to comply with the Financial Services Authority’s (FSA) Monday 14th November 2011 deadline for mobile taping. They work like this: say I have the recorded handset and I call you. Your phone rings, you answer it. The application on my handset then puts us both on hold while it dials in the remote recorder. When the
Read more →FSA mobile recording compliance and the working holiday. It’s August and the City has that almost peaceful summer feel, as its workers migrate to hotter climes for their “Worlidays”. Worlidays, a name created by Lucy Kellaway describes the sort of holidays many of us take these days, not least traders and customer teams in investment banking: not at work, but invariably available at the end of their BlackBerry. Of course, away from their desk and
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