MiFID - Financial Services Authority (FSA)
Summary
The Markets in Financial Instruments Directive (MiFID) requires all electronic communications to be recorded when orders are received over this electronic communication medium. Data must be stored for a three year period in a format readily accessible by the FSA. It must not be possible to alter or manipulate the records.
COBS 11.8.10R requires firms to record all relevant telephone conversations and electronic communications so they are readily accessible to us and any changes to the originals can be identified.
FSA has determined the term electronic communication as having a wide application. It includes fax, email, Bloomberg mail, video conferencing, SMS, business to business devices, chat and instant messaging. We will not produce an exhaustive list of electronic communication because of the continuing innovation and advancement in technology which would mean the list frequently becomes out of date. We also feel that it is inappropriate to limit the obligations to a prescriptive list and an outcome based approach is more suitable in implementing such rules. We would expect senior management to exercise their judgment in this area.
MobileMandate Key Benefits
MobileMandate is designed to support the the flow of text messaging, pin to pin,
and BlackBerry® Messenger througout your organization. Our intuitive user interface and advanced reporting capabilities provides yor team
with the ability to get the job done quickly, effectiviely, and efficiently.
Effective Management
- Ensure every SMS message passing through your organization is archived
and readily available
Collaboration
- Create roles and responsibilities for managing mobile messaging
Proactive Platform
- Build reports to find policy breaching events like wall crossing
and receive alerts when those breaches happen
Evidence Supervision
- Provide complete workflow audit trails of who has acted upon any
message
Automation
- Automate email and reports engaging users to assist with supervision
Security
- Secure hosted content with full disaster recovery