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Financial Services Regulation

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Interview with FSA sets record straight on mobile recording

03 October 2011  |  3810 views  |  0

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 2011 deadline on mobile recording. Several banks still think that they can be persuaded to delay the deadline. In her recent interview with Finextra, Jocelyn McCafferty, Policy Associate and co-author of the FSA’s mobile recording rules, scotched any possibility of this.

Joining Jocelyn in the Finextra discussion on “FSA mobile recording rules—compliance considerations for 14th November and beyond”, were David Kemp, a twenty-year veteran of corporate banking and compliance with RBS and ABN Amro, and now Executive Director at Autonomy, and our own Chief Technology Officer, Ryan Shuttleworth.

The broad-ranging debate covered topics such as how banks are responding to the deadline, the impact on compliance operations, technology considerations, how the FSA will police the rule, and the latest developments on taping rules in Europe and the US.

If you are one of the financial institutions waking up to mobile call recording for the first time—or, more likely, you’re already on the case but want to hear the latest status and views on the regulation—I urge you to watch the interview.

 

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