MiFID II

Are You Preparing for MiFID II?

Are you an organisation involved in financial trading? If so, this date should be critical to you:

03/01/2018

That’s the date by which your organisation needs to be fully compliant with the updated Markets in Financial Instruments Directive – MiFID II.

There are three key questions you need to understand:

What is the aim of MiFID II?

  • Make financial markets more transparent
  • Improve protections for investors
  • Increase healthy competition within financial markets
  • Strengthen existing MiFID regulations

What are the details?

  • It applies to all financial trading organisations involved in transactions
  • All telephone and electronic communications related to transactions must be recorded and stored
  • Recordings must be stored and accessible for 5-7 years

What do you need to do?

  • Assess your existing data recording means
  • Address gaps in your business communications and implement solutions that will allow you to meet compliance come January 2018

Your assessment needs to cover every method of communication employed by your organisation.

When it comes to archiving and auditing, ProcessFlows is the go-to vendor for solutions which meet those needs.

Use RECITE interaction recording for your telephony compliance. Record and store phone calls, censoring sensitive information without cutting it out entirely and cataloguing calls for easy retrieval. Download a datasheet here.

RightFax enables you to create consistent audit trails with every fax. Keep a log of who sent what, to where, at what time and from what device. Store faxes with one of our archiving solutions.

OnBase uses document management, workflows and records management to create a robust document repository for archiving and retrieving communications data.

More information

For more information you can call us on +44 (0) 1962 835053, or email sales@processflows.co.uk.

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