ESMA · ESMA_QA_1774 Answer Published

Recording of telephone conversations and electronic communications

Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries
Topic
Recording of telephone conversations and electronic communications
Submitted
2016-10-10
Answered
2016-10-10
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Question

Do relevant telephone conversations and electronic communications need to be recorded by the firm from start to end?

Answer

[ESMA34-43-349 MiFID II Q&As on Investor protection Ch. 3, question 8] In ESMA’s view, the scope of the requirements require firms to record the entirety of telephone conversations and electronic communications. This is because it is impossible to appreciate upfront whether the conversation will lead to the conclusion of a transaction.  Therefore, ESMA expects firms to record all relevant telephone conversations or electronic communications from start to end.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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