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Expert comment: MiFID II & cloud mobile tech PDF Print E-mail
Tuesday, 04 July 2017
Chris Michael, CEO and Co-Founder at Swytch, Comments: “By covering the entire advice chain, MiFID II extends call recording requirements to more situations, more team members and more devices than ever before. With personal mobile phone use now prominent in business, this presents a control issue for organisations faced with MiFID II compliance. Some insist bring-you-own-device (BYOD) policies will be incompatible with MiFID II, or that compliant company SIMs will be the only answer. In reality it’s not the devices or SIMs that need to be company controlled to actively demonstrate compliance, but the business mobile number. 

"New cloud-based mobile technology allows businesses to provide employees with a work mobile number they can use on their own personal device. It also means businesses using BYOD can guarantee MiFID II compliance by recording business communications taking place on employees’ personal devices. Calls made using an employee’s personal number are not recorded, striking the ideal balance between employee privacy rights and MiFID II compliance.”

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