Since January 2018, institutes have been obligated according to Section 32 Banking Act (KWG) to record their telephone consulting discussions. The same also applies for “electronic communication”, provided this relates to the consultation or advice related to financial assets and investments.
The industry reacts in different ways. While a few companies have pulled out of telephone consulting altogether, others are making extensive investments in new telephone infrastructures which appear to meet the MiFID II requirements regarding taping. At the latest when it comes to the tamper-proof storing of the recordings, many solutions are no longer MiFID-compliant and this means that the tamper-proof storage of the communication going beyond the discussion is often not covered. The question of a solution remains unanswered concerning consults via mobile phones.
This is not the case if you use the MiFID-Recorder.
Here, no investment in new hardware is necessary, the taping works from every telephone, and with your mobile as well, of course. The tamper-proofness and the MiFID II conformity are certified.
The use of the MiFID-Recorder is not just conceivably simple, but rather, this solution for recording and storing telephone discussions is also extremely affordable.
You can contact us at any time via email or telephone (Mon–Fri 8 a.m. – 5 p.m.) if you have any questions.