MiFID II Call – Call Recording and Regulatory Compliance

MiFID II Regulatory Landscape

MiFID: ‘Markets in Financial Instruments Directive’ is the framework of the European Union (EU) legislation for investment intermediaries that provide services to clients around shares, bonds, units in collective investment schemes and derivatives (collectively known as ‘financial instruments’) and the organized trading of financial instruments.

MiFID II replaces previous MiFID I regulations:
Stricter requirements for monitoring, record keeping, reporting, financial service involvement jurisdiction ‘that are intended to lead to a transaction’. CIS Crystal Quality records conversations and stores them securely – including cell phones – enabling businesses, corporations and organizations to fully comply with the new regulations.

Financial service providers are required to retain, capture and maintain all communication between sellers, buyers and investment mediators. Records will have to be kept for a minimum of 5 years. All records should be available and cannot be modified not deleted. All records should be kept, including records not leading to a transaction. Reduce risks with the legislation framework, strengthen market integrity in financial & trading markets.


Crystal Quality (CQ) Solution Architecture – Passive Mode

Record and store all communication

Storing all communication on a single server platform is the best way to go about this.

Record and store all communication

Storing all communication on a single server platform is the best way to go about this.

Maintain records for 5 years, at least

Stores records securely

MiFID II Recording Requirements

Avdor CIS Ensures your MiFID II Readiness

Our scalable solutions help you comply with MiFID II, recording communications and screen captures, and stores them on a central platform.
Retain interactions, with easy access to any transaction or financial service and trading call.

Crystal Quality solutions capture and retain interactions on CiscoSiprec, Mitel, Genesys, Huawei, Skype for Business and other leading communication platforms.
Text, voice, desktop screen, analog, digital, radio communication can be recorded, stored, retained and managed on a central platform.

Find out how CIS Can strengthen your MiFID II Compliance

CIS Mobile Recording Coverage

Record your office desk phones – MiFID II mobile communication recording:

Option 1: 1st Generation – Recording on Device
With a device-dependent recording solution – the entire recording responsibility is with the employee. With the new regulations, organizations can no longer rely on these types of solutions. In fact, on-device call recording does not comply with the new regulations.

Option 2: 2nd Generation – Recording by Operator
Operator-based solutions are SIM related, and therefore provide call and text recording for a specific SIM with its one mobile number.
With an operator-based solution, a business specific mobile device must be carried and used by the employee in addition to their personal cell phone.
Such solutions are also quite expensive. In addition, major privacy conflicts may arise vis-a-vis privacy regulations should an employee (agent) use a single phone for both business and private mobile calls – for example with remote insurance agents.

Option 3: 3rd Generation – CIS & Mobile2CRM (Spikko) Business Calls Recording
This solution adds a business cellular number (identity) on the employee’s device. It is the only solution that provides full compliance – yet enables full separation of business and private calls / text on a single device!
Full compliance of mobile call recording – with full privacy of the employee’s private line.


CIS with Mobile2CRM, is a converged, operator-agnostic solution

Avdor CIS Converged Solution

  • Mobile & Desk phones recording solution including screen and SMS
  • All recordings are stored on one server
  • All recordings can be viewed on one screen
  • Mobile recording of any device, SIM and operator
  • Records are kept on premise, within your network
  • Total privacy. Only business calls are recorded
  • Mobile number is owned (Not the device; Not the SIM) by the organization.
  • Integrated with the organization’s existing voice logger, allowing full regulation compliance

MiFID II Directly Impacts the Following Firms:

  • Banks
  • Investment Firms
  • Recognized Investment
  • Exchanges
  • Prospective Data Reporting Service Providers
  • Trustee firms
  • Energy and oil market participants
  • Firms conducting corporate finance business or stock lending activities
  • Occupational pension scheme
  •  Firms conducting Lloyd’s market activities
  • Depositaries
  • Investment companies with Variable Capital
  • Undertakings for Collective Investment in Transferable Securities (UCITS)
  • Alternative Investment Fund Managers (AIFM) qualifiers
  • Service Companies
  • Authorized professional firms (APFs)
  • Trading Floors, Call Centers, Contact Centers

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