On the 3rd of January 2018, over 8000 affected firms across 28 EU member states will have to comply with new financial regulation MiFID II. All electronic communications will have to be recorded and stored for a minimum of five years and readily available for audit. But could your business benefit from extended mobility and see a new regulatory requirement as an opportunity?
The Market Abuse Regulation
The Markets Abuse Regulation came into force on July 3rd 2016. Its aim, to increase market integrity and investor protection, enhancing the attractiveness of securities markets for capital raising. VSmart™ forms an integral part of the Trade Surveillance Ecosystem by capturing all communication channels, helping your business achieve compliance under one network agnostic, future-proofed solution.
The Dodd–Frank Wall Street Reform and Consumer Protection Act
Although this regulation may soon be re-drafted by The Financial Choice Act, at present the act requires all trade execution, including pre and post-trade to be recorded and stored for a minimum of five years. At VoxSmart, we believe mobile compliance shouldn’t be about banning communication channels, but enabling them, to achieve full global mobile compliance.
Markets in Financial Instruments Directive II
From January 3rd 2018, all ESMA regulated firms across the UK and EU will have to capture, record and store all communications relating to a trade. We can help your business achieve MiFID II compliance across your mobile devices using our proprietary software VSmart™. Whether you want to record calls, texts, voicemails or instant message we can help your compliance team truly empower mobility and regulatory compliance.
Senior Managers and Certification Regime
SM&CR aims to reduce harm to consumers and strengthen market integrity and makes senior individuals more accountable for internal conduct and compliance.
General Data Protection Regulation
The EU’s General Data Protection Regulation goes into effect in May 2018. The law states that call recording is deemed lawful under 6 situations, including the fulfilment of law or a contract. For firms looking at global compliance under multiple laws and jurisdictions, our solution provides network agnostic recording of all channels including instant message. As regulations adapt, your business can too.
One Mobile Compliance Solution.
Achieving truly global mobile compliance shouldn't be about banning channels like Instant Messaging. We want to help you enable mobility across your organisation. Whether your users need to travel, message on WhatsApp or comply with regulation like MiFID II, we can help you.
Watch part 1 of our VoxSmart CEO Interview series.
In this video Oliver Blower discusses VoxSmart’s core product; IM Capture and how the software better caters to their client’s needs (operation in various locations on multiple trending devices) and their ability to maintain compliance regulations across various global communication channels.