Compliance

Dodd-Frank, MiFID, GDPR, And Other Compliance Transaction Call Recording

There are numerous regulations now affecting the financial industry, and Market Communications wants to make sure you understand the increasing pressure you face to ensure that regulatory compliance is met when trades, transactions, and other tasks are completed.

This requires a series of capabilities and services that must all be coordinated as part of a compliance system. Without compliance infrastructure, or without a system that functions optimally, a company will put themselves at risk as it pertains to legal and financial transactions.

Even as legislation changes specific regulations, the need to have compliance technology, call recording, and data management capabilities is only going to become more pressing. Those in the financial industry know that fines and penalties are not going to decrease or go away and the pressure to improve regulatory compliance capabilities will be an ongoing process in the global marketplace into the foreseeable future.

Since 2008, the financial marketplace has seen more $321 billion in fines and penalties and excesses of $200 billion in consultancy and legal fees. These costs could be significantly reduced or outright avoided with the right compliance and trade and transaction call recording measures – including all the technology and support to make everything manageable. Technology will continue to be the driver to effect a more responsible and compliant world. 

Even if regulations resulting from Dodd-Frank, MiFID, MiFID II, PCI, GDPR, and other standards are not an issue within most industries, regulatory compliance is now a critical factor for many organizations.

While the financial industry is well acquainted with the need to ensure compliance by recording trades, transactions, and various activities, there’s a growing need to record and access the contents of calls coming to and from other types of organizations and all sectors in the marketplace.

This is what brings many clients to Market Communications. We help companies improve, establish, and maintain a call recording compliance infrastructure that’s catered to specific regulatory and business needs. 

Our Compliance Call Recording Services and Regulatory Solutions For Financial Markets

Our solutions are as intuitive to manage as they are vital to legal and ethical operations.

We have specialized and specific experience with companies in the financial industry, including trading firms and investment banks, that require the technology to record trades, transactions, and other dealer activities, reconstruct calls, and carry out constant, proactive monitoring to ensure there are no gaps in their compliance capabilities.

A recent project we undertook involved a major US financial client, in which we managed an Enterprise Environment that included several branch sites and the existing trading and voice recording solutions for regulatory and compliance requirements. Dodd-Frank regulatory compliance was a major requirement for their compliance team, and we enabled them to gain complete capabilities and provided all the support they needed. 

We also offer a range of solutions for call centers, emergency response services, utilities, and other organizations that need call recording and regulatory compliance resources.

Through our own expertise and partnerships with leading technology providers, we help our clients solve a number of different problems that are especially pressing when it comes to compliance and call recording infrastructure.

We serve as a single touchpoint, eliminating the need to coordinate numerous services from different sources. We simplify the compliance assurance process while expanding access to technology and various resources.

Our provider partnerships enable us to create packages and service offerings that are customized to the needs of a specific organization and the larger marketplace or industry in which they operate.

For financial firms and banks, this means services and systems that are dedicated to Dodd-Frank, MiFID I and MiFID II, PCI, and GDPR compliance and other global regulations. For call and transaction processing centers, multinational businesses with numerous sites, government agencies, first responders, and utility providers, this could mean a range of other capabilities that are tailored to unique specifications.

What You Get When You Rely On Market Communications for Call Recording Compliance

Market Communications provides a specific set of compliance assets comprised of technology that protects a business against risk. Call clarity, easy recovery and recreation, and assurance that call storage isn’t compromised due to technology issues are just a few of the built-in features.

When transaction call recordings and trade re-creations are needed on demand, there are no gaps and no question over content, ensuring any risks or legal complications are mitigated. Our call compliance data management resources provide you with optimal and continuously current assurances.     

More capable call recording and archiving gives an organization better options for performing internal evaluations of call activity, whether for quality control, business analysis, or other purposes. We’re here to ensure you have everything you need to achieve your compliance goals. 

We have the experience that’s necessary to identify the most effective type of solution and the expertise to get it implemented in an efficient and reliable way. By dealing with a single point-of-contact—that’s familiar with your complete compliance setup and service—you gain better control over your technology budget and can make adjustments with greater flexibility.  

We help companies update their compliance capabilities by supporting older, legacy technology, while also fostering the transition to more capable call recording and archiving capabilities, among other solutions.

We can help improve on call clarity, recording reliability, and enhance systems that enable calls to be archived, organized, and easily recalled on demand. We can integrate these enhancements into your current infrastructure so compliance can be assured without a major upset to your practices.  

This approach gives our clients the ability to better respond when audits, investigations, and inquiries are required for legal purposes. Submission of recordings may be required in as little as twenty-four to forty-eight hours, therefore prompt response capabilities are essential.

In addition to ensuring optimal response time when the unexpected happens, we help our clients stay in compliance as a matter of consistency. Our clients are always prepared and can feel confident in their infrastructure when confirmation of regulatory compliance is needed on a regular or periodic basis. 

Ensuring Constancy and Reliability in Compliance Infrastructures

Your capabilities are only as valuable as the reliability of the system. This is why we provide comprehensive services that constantly and meticulously check for any malfunction, 24/7.

As these features are automated, there is no delay in identifying possible problems, which can then be promptly addressed and corrected before malfunctions begin to escalate. This level of automation saves your team time and energy in identifying any possible issues and gives them a clear direction on how to take action when and where it’s needed.  

A compliance system based in a future-proof software suite gives businesses the unique ability to adapt to regulations and goals as they change. Our clients can respond appropriately, year after year, whether that means adjusting to new standards or incorporating new technology. 

If there’s a situation that requires an organization to move to a remote or temporary site, their compliance services and operations go with them. There’s much peace of mind to be gained when reliable regulatory measures aren’t tethered to any one, single location.     

The technology that comprises our compliance services is meant to be as intuitive as it is reliable and essential. Market Communications is currently partnered with Verint/Verba, Red Box Recorders and Nice Systems in voice recording and compliance solutions. 

This amounts to less training for your team and less time spent managing and understanding the system; instead, you get right to utilizing it to manage your environment. Our experts also provide comprehensive support so that nothing is beyond your understanding or access.  

Getting Started

When you’re ready to discuss your compliance needs, whether you have an existing system in place today, such as Verint/Verba, Red Box, or Nice, or you need to establish your regulatory infrastructure, Market Communications can help you identify the specific services and solutions that will be most effective for your needs.

We’ll work closely with your regulatory and quality assurance team, your IT specialists, and other members of your organization to pinpoint the best approach to helping you achieve reliable and comprehensive compliance.

To get started, call us toll-free or complete the contact form on our website. One of our experts will get in touch with you and will provide you with everything you need to get started.