ESMA_QA_1773
10/10/2016
Subject Matter
Recording of telephone conversations and electronic communications
    Is the recording of telephone conversations and electronic communications a critical or important operational function for the purposes of the outsourcing rules?
    ESMA Answer
    10-10-2016

      [ESMA 35-43-349 MiFID II Q&As on Investor protection Ch. 3, question 7]

       Firms may use third-party recording services to meet the new requirement to record telephone conversations and electronic communication. However, ESMA considers that, for the purposes of the outsourcing rules, taping will be considered a critical or important operational function.  

      Status: Answer Published

      Additional Information

      Level 1 Regulation
      Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries
      Topic
      Recording of telephone conversations and electronic communications