Address Article 16(7)

MiFID II Requirements

MiFID II firms must retain transaction-related telephone recordings for at least five years.

Archiving Requirements

Records shall include the recording of telephone conversations or electronic communications relating to, at least, transactions concluded when dealing on own account and the provision of client order services that relate to the reception, transmission and execution of client orders.

Such telephone conversations and electronic communications shall also include those that are intended to result in transactions concluded when dealing on own account or in the provision of client order services that relate to the reception, transmission and execution of client orders, even if those conversations or communications do not result in the conclusion of such transactions or in the provision of client order services.

. . .

The records kept in accordance with this paragraph shall be provided to the client involved upon request and shall be kept for a period of five years and, where requested by the competent authority, for a period of up to seven years.

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

Investment firms must capture and retain electronic communications, including telephone conversations, relating to their own, and their client’s, orders.  Theta Lake integrates with leading collaboration and voice recording platforms to facilitate the recording and AI-enabled supervision of communications from those systems relevant to MiFID II.

 

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.