EU Firms Reminded To Record Internal Chats Under MiFID
Law360, London (July 10, 2017, 3:31 PM BST) -- Europe’s top securities regulator reminded financial institutions on Monday that all internal telephone calls and other electronic communications about transactions or execution of orders will need to be recorded under incoming investor protection requirements.
The Paris-based European Securities and Markets Authority made the clarification as it updated guidance for firms that need to comply with the EU’s second Markets in Financial Instruments Directive, or MiFID II, and the EU’s Markets in Financial Instruments Regulation, or MiFIR, which come into force on Jan. 3, 2018.
“ESMA expects firms to record all internal telephone calls or electronic communications regarding the handling of orders...
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