Regulators increasingly demand that companies manage and report business records more thoroughly and transparently.
 
FCA-regulated organisations initially only had to record and retain office-based communications in line with the FSA (now managed by the FCA) publication of Policy Statement 08/1. However, the removal of the exemption on mobile phone call recording within Conduct of Business Sourcebook (COBS)11.8 – Recording of telephone conversations and electronic communications – in 2011 means that now all relevant telephone conversations (whether on fixed lines or mobile devices supplied by firms) require recording and storage for six months in the UK. 
Similarly in the US, rules promulgated by the CFTC to implement the Dodd-Frank act require the recording and storage of all calls which relate to pre-execution trade information made on mobile devices by swap dealers and major swap participants. As these rules spread globally, it is imperative to have a robust recording solution in place which covers mobile devices. 
 
Simple mobile recording to manage risk
With Red Box's Quantify Mobile Recording Suite, financial services organisations can record mobile communications in a fully compliant manner. Users will be able to follow market regulations and meet FCA, COBS11.8, MiFID, Dodd-Frank and BSI0008 standards.
 
Our mobile recording solution enables you to:
•Automatically record incoming and outgoing calls
•Make and receive calls as normal
•Record BlackBerry® and Android® smartphones
•Receive risk management alerts to prevent user bypass
•Store recordings as auditable audio files
•Activate recording when required or record every call
•Integrate with landline recording and storage
Who needs electronic communications recording?
Any organisation whose employees do business over mobile as well as landline phones must have effective recording. Roles include:
•Stockbrokers, investment bankers or fund managers who need protection and security when advising high-net-worth clients. Often this involves working across time zones and internal or regulatory requirements to record all financial deals
•Trainees being monitored for quality and training
•IT managers who must ensure continuous service during disaster recovery