The Markets in Financial Instruments Directive, also called as MiFID II, was established years ago to help financial sectors with their transparency in their transactions. This goes to any kind of operation that is contained with conversations regarding negotiations. And from these firms that are handling finance, no matter how big or small their enterprise is, they are legally allowed to consent to the MiFID phone recording and WhatsApp call recording.
This is to avoid sanctions and backlashes that will be filed against your corporation. It will also a massive help of letting your consumers know that your company is to be trusted. In fact, toeing the line of the lawsuit is much more convincing than creating a commercial that is lacking conviction.
However, with the epidemic that has been a complete catastrophe in Wuhan, China back in November 2019 and has now been a disastrous pandemic, business operations have been halted. Since the government in many countries also established an enhanced community quarantine to stop the diffusion of the fatal virus called Corona Virus Disease 2019 or also simplified as COVID-19.
And like a domino effect, the economic businesses’ commissions have also been stopped in the meantime that the disease is still dangerously existing. Although, several firms managed to work from home with their files and tools from work in hand.
Nevertheless, there is still interference in terms of compliance with the MiFID call recording. That is why, in the middle of this cataclysm, the Market in Financial Instruments Directive has amended their regulation in terms of recordkeeping
To know more about their regulation updates, read the infographic below created and designed by TeleMessage: