Compare the Cloud: MiFID II set to change the way the financial services industry records conversations

There are significant changes afoot in the regulation of financial instruments. There’s a section of MiFID II (The Markets in Financial Instruments Directive), which comes into force in January 2018, which stipulates that any firm providing financial services to clients linked to ‘financial instruments’ will have to record and store all communications intended to lead to a transaction.

This means anyone in the advice chain must record and store their conversations with customers, which is a big escalation of current obligations…

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