FCA Handbook SYSC 10A.1.6

Recording Telephone & eCommunications

Retain transaction-related telephone recordings for UK MiFID II firms

Archiving Requirements

A firm must take all reasonable steps to record telephone conversations, and keep a copy of electronic communications, that relate to the activities in financial instruments referred to in SYSC 10A.1.1R(2) (and that are not excluded by SYSC 10A.1.4R), and that are made with, sent from, or received on, equipment:

(1) provided by the firm to an employee or contractor; or

(2) the use of which by an employee or contractor has been accepted or permitted by the firm.

All electronic records, including email as well as collaboration content like chat, whiteboards, and screen shares, must be retained in non-rewriteable, non-erasable format.

How Can We Help?

Theta Lake's Compliance Solutions

UK MiFID Investment Firms, and other in-scope entities, must capture and retain electronic communications, including telephone conversations, relating to their own or their client’s orders.  Theta Lake integrates with leading collaboration and voice recording platforms to facilitate the recording and AI-enabled supervision of communications taking place on those systems relevant to the FCA Rule.

Theta Lake helps to identify swaps-related conversations as well as risks around improper promotions, risky and abusive behavior, and customer complaints in what was spoken, shown, or shared during these interactions.