Mobile Voice Recording

Many Trading organisations recently found themselves subject to the FSA regulation that requires firms to take reasonable steps to record relevant telephone conversations, and keep a copy of relevant electronic communications, made with, sent from or received on equipment:

(1) provided by the firm to an employee or contractor; or

(2) the use of which by an employee or contractor has been sanctioned or permitted by the firm;

This meant that from November 14th 2011 all “investment firms” are duty bound to record “relevant conversations” and “electronic communication” and store them for (minimum)six months. Furthermore, firms must also take reasonable steps to ensure these conversations are not taking place on unrecorded personal mobile phones.Our experience in this sector means that you can now choose and compare from a number of manufacturer’s products including; Autonomy, Cybertech, Nice, and Redbox.

Who is affected by the regulations?

‘Investment firms’ mean banks, stockbrokers, investment managers (including collective investment scheme managers and hedge fund managers), and financial and commodity derivatives firms that receive client orders and negotiate, agree and arrange transactions across the equity, bond and financial commodity and derivatives markets.

‘Relevant conversations’ include all traders’ voice, texts and data sent from, or received by mobile phones issued by the business.

Pre-Deadline

In the run up to November 2011, several manufacturers developed solutions that claimed to address the issues raised by this legislation, and numerous clients who had no option but to comply before the deadline date signed up to these new services.

Since that date, there has been significant negative feedback from users due to time delays caused by re-routing of calls to enable recording. Some are lobbying the FSA for additional time or exemption as they feel that the solutions they purchased are not fit for purpose. Some resellers have withdrawn their adopted solution from sale due to the extent of the problems encountered by their clients.

In addition to the connection delays, users reported that several of the solutions are far from acceptable due to dropped calls, additional call charges and the inability to function in several overseas locations.

2nd Generation Mobile Voice Recording

There is another solution: SIM based recording

How does SIM differ from Application based solutions?

For Users

• No noticeable connection delays
• All user features fully supported
• All phones supported, i.e. iPhone & Android
• Normal battery life
• Significant cost saving – up to 90% when roaming
• A global network, i.e. UK to US calls in bundle
• Tru own their infrastructure and global MPLS network
• Works on all global networks

For Businesses

• Clients have their own encryption
• On-site or hosted options
• Cost saving of up to 90% on roaming charges
• Secure https web access, option of 2048 bit encryption
• Basic and advanced search queries on over 40 fields
• Full audit trail on access and download of calls
• Fully integrated with BES (Obsidian is a RIM partner)

Click here to and download our Brochure and learn more about the First App-less Mobile Recording Solution from Tru and Obsidian Wireless in partnership with AVT.

Click here to download a PDF containing more information about the different Business Plans for UK Customers.

For more information, pelase call us on 020 7490 7977 or click here to  get in touch with us today.