Software house Autonomy is pitching for business from firms looking to comply with upcoming Financial Services Authority (FSA) regulations requiring them to record and store telephone conversations and electronic communications relating to client orders.
From March 2009, investment firms in the UK will have to record all telephone conversations and electronic communications - e-mail, instant messaging and faxes - involving client orders for the equity, bond and derivatives markets and retain the files for six months.
The introduction of the taping programme is part of the FSA's efforts to combat market abuse, particularly insider dealing and market manipulation.
Autonomy says its single platform provides a one stop compliance shop, offering clients call recording, archiving and speech analysis, ensuring the new rules are met.
The platform uses conceptual searching technology - where the search is based on words related to a concept rather than just the actual search phrase - as well as phoneme and word spotting to identify pertinent communication across e-mail, instant messages, documents, audio and video.
"The diversity of industry regulations around the globe has created massive challenges for compliance officers, particularly in multi-national organizations," say Mike Lynch, CEO, Autonomy. "Our technology is designed to handle these complexities and uses a common platform to span the entire spectrum of compliance and risk management for an enterprise - from call collection and archiving to analysis and discovery - allowing solutions to be implemented as the demands of business grow."
You can read the FSA policy statement on recording here:
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