The latest FSA ruling in relation to recording telephone calls for the UK financial markets hit the news in March. The updated statement outlined that brokers trading in stocks, shares, bonds and derivatives will be required to record telephone conversations and other electronic communications which relate to client orders and the conclusion of transactions to help deter market abuse. Highlights from the report are;- a deadline for compliance has been set for March 2009, the call retention period which some thought might be as long as 3 years has now been set at 6 months. The decision to record telephone conversations from mobile phones, which although considered important has been postponed and will be revisited in September 2009. This postponement is primarily due to the general ignorance of technology which is capable of performing this function. Regardless of the size of an organisation there will be an expectation that firms will be fully compliant. The full FSA report can be viewed atwww.finextra.com/finextra-downloads/newsdocs/FSAcalllrecording.pdf Business Systems can assist in making sure your installation is fit for purpose, whether that is with a simple modification to increase on-line storage or upgrade equipment where necessary, we have a range of call recording solutions available to suit most budgets. For those with smaller budgets a hosted call recording solution, paid for on a usage or subscription basis may be the way forward, particularly for those firms who do not have their own in-house expertise and do not want to have to house or maintain any equipment onsite. Alternatively the VocalCompactPro or Nice Call Focus III can prove an equally robust investment for the smaller firm seeking a CPE (Customer Premise Equipment) based solution. For those firms looking at enterprise level recording solutions the NICE Perform Compliance Suite offers restricted liability, fraud detection, business intelligence, centralised storage options with inclusive business continuity support. Alternatively the VocalMaxPro is a powerful call recording, evaluation and archiving solution designed to help facilitate compliance, reduce risk and increase process efficiencies. Whatever your needs, talk to Business Systems for independent advice on the best solutions to match your business requirements and ensure compliance by March 2009. For further information call 0800 458 2988 or email [email protected]. Written by: Business Systems UK
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Blog 29 January, 2026 Microsoft Teams Recording Without the Risk: A Practical Guide for Regulated Organisations Microsoft Teams has become the backbone of collaboration across financial services, insurance, the public sector and other regulated industries. Trading conversations, client discussions, internal decisions and approvals are now happening daily across voice, video, chat and shared files. That shift brings opportunity, but it also introduces risk. For organisations operating under regulations such as FCA,
Blog 5 December, 2025 The clock is ticking: Why end-of-life recording systems are a critical compliance risk Outdated recording technology isn’t just an inconvenience, it’s a ticking time bomb for regulated firms. For financial services and other heavily regulated industries, end-of-life (EoL) voice recording systems can create dangerous blind spots. When vendors withdraw support, these unsupported platforms become vulnerable, exposing your firm to major compliance penalties under frameworks like MiFID II, FCA,
Blog 20 November, 2025 Proactive AI vs Reactive AI: Understanding the Difference Artificial intelligence is changing the way organisations across the UK engage with customers, but all AI solutions aren’t created equal. Many still rely on reactive models that respond only once a customer makes contact. Proactive AI takes a more advanced approach, identifying needs and acting before the customer does. Understanding the key differences between proactive
Blog 20 November, 2025 5 Ways Proactive AI Can Reduce Manual Workload in Contact Centres Contact centres today face a familiar challenge: maintaining exceptional service while managing high volumes, rising costs, and limited resources. Agents are spending valuable time on repetitive, manual work instead of focusing on complex, high-value interactions that truly build customer loyalty. This is where Proactive AI makes a measurable difference. By combining automation with intelligence, it