New regulations for financial phone call recordings in 2018 – comply now or pay up to €20m fine


Your hosted telephony systems and call recordings will need to do more from January 3, 2018 when the Markets in Financial Instruments Directive (MiFID) II come into effect. From 2018, any business phone call (even if only advice related) that leads to a financial transaction, trade or investment must be recorded on a ‘durable medium’ and be held for a minimum of five years.