In November 2011, the UK Financial Services Authority (FSA), now the Financial Conduct Authority (FCA), introduced a regulation stating that all financial institutions' mobile communications must be recorded. The US-based Dodd-Frank Wall Street Reform followed the UK's lead with a similar directive in early 2013.
The rulings are very similar except the FCA regulation is applicable only to UK financial institutions; while the extraterritoriality nature of Dodd-Frank means that foreign banks must comply with the new regulations if they wish to continue to trade with the US.
In order to discuss the lessons learned and the practical implications of these two overlapping and complementary regulations, Finextra and Truphone hosted a webcast with industry leaders on both sides of the Atlantic.
Register now to hear from:
- David G Lucking, Partner, Allen & Overy LLP
- Tim Furmidge, Head of Product Management, Financial Technology Services, BT
- Paul Liesching, Director Enterprise Partners and Solutions, Truphone
Our panel discussed:
- How has the UK financial industry coped with the FCA regulation – were there any unintended consequences and key learnings that can be shared?
- What is happening in the US with Dodd-Frank implementation? Are banks choosing to ban mobile phone usage?
- How are firms managing to comply with the policy – are there any hidden dangers?
- How can firms balance the requirements to comply with regulations – while not inhibiting normal business practice?
- Why mobile recording? What are the business benefits of mobile recording, apart from just being a check box for compliance?
Register now for this thought provoking webinar.