MiFID CALL RECORDING – 2020 REGULATION UPDATES AND COVID VIRUS RESPONSE

When there is a complication in a situation, there is always a silver lining to it that can lead you to a solution. This is what happened to the perplexity that the total lockdown that caused by the COVID-19 or the Corona Virus Disease 2019. Since this virus is deadly, the authorities established an enhanced community quarantine. That all businesses, even if it is big or small, were closed down as well so that the spread of this contagious illness will halt.

Nevertheless, for a continuous progression in the operation of these enterprises, they have found a way to proceed working even if they are in the comfort and the safety of the four corners of their home. This is the power that both the Internet and the invented technologies has given us, we are still able to progress and earn money for our everyday living even if we only have a phone, a laptop, or a personal computer in hands that is connected to a local network.

However, considering that it is going to be difficult for these corporations to continue their compliance with the MiFID phone recording and WhatsApp call recording, the Market in Financial Instruments Directive has amended their ordinance in line with this circumstance. But this is only a temporary update for the regulation of the 2020 call recording up until the succession of fighting off the COVID-19.

If you want to learn more about these changes in MiFID II’s lawsuit regarding public records archiving, read the infographic below created and designed by TeleMessage: