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The Stockbroker

Changes to the Financial Services Authority's guidance regarding the keeping of customer records, meant that the firm of Stockbrokers required to 'tape' all relevant conversations made by their brokers, even on their mobile phones.

Although many systems are available to record these conversations, all were flawed. Either they:
  • Added a delay while the mobile opened a second call leg to the recording platform, which couldn't even be hidden with some music or an announcement.
  • Needed a third party application, on a particular brand of smart-phone, to record the conversation.
  • Would only work over 3G - the call would drop as soon as the broker's network coverage weakened.
  • Wouldn't work abroad.

or they

  • used a bluetooth device to make the recording.
None of these approaches can be described as fully compliant; if you add in delays in a time-sensitive transaction then people will find other routes, any app could be circumvented by moving the SIM to a different phone, and a bluetooth device could never be proved to have a complete and true record of all calls.

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