The purpose of the FSA Compliance Guide is to prevent, detect and deter any market abuse. This can be acheived with a call recording solution as all calls are recorded you can detect any market abuse. A Call Recording Solution will not only aid you in any legal disputes but can also aid in making your business more efficient and improve customer service
The mechanism leading from call recording to economic benefits is as follows:
- recorded communication may increase the probability of successful enforcement;
- this reduces the expected value to be gained from committing market abuse;
- and this, in principle, leads to increased market confidence and greater price efficiency.
FSA Requirements:
COBS 11.8.10R requires firms to record all relevant telephone calls and electronic communications so they are readily accessible to us and any changes to the originals can be identified. We are not setting any technical standards for search facilities, such as specifying voice recognition, but would expect that firms’ search facilities would support a reasonable interpretation of ‘readily accessible’.
To read the rest of the FSA Compliance guide please complete the form provided.
