Requirements · Financial services
MiFID II recording of communications (Article 16(7))
2 Moraph products list it under “Requirements it supports”. The products support this requirement; meeting it remains your organization’s responsibility.
About the rule
What it is
Article 16(7) of the EU’s Markets in Financial Instruments Directive (Directive 2014/65/EU, MiFID II) requires investment firms to record telephone conversations and electronic communications relating to transactions they conclude when dealing on their own account and to services for client orders. The records must be kept for five years, or up to seven where the national regulator requires, and each EU member state’s competent authority enforces the requirement.
Source: EUR-Lex: Directive 2014/65/EU. This summary is for orientation only; read the rule itself or ask your counsel for what it requires of you.
Citations
How the products cite it
The exact wording on the product pages, with how many products use each.
- MiFID II Article 16(7) (recording of telephone conversations relating to client orders) 1 product
- MiFID II Article 16(7) and Commission Delegated Regulation (EU) 2017/565 Article 76 (recording of communications) 1 product
For what it requires of your organization, read the rule itself or ask your counsel.
Products
The 2 products that support it
Trade Reconstruction Repository
Links voice calls, emails, and chat logs to specific trade executions to support "Best Execution" reviews and MiFID II record-keeping. Best execution judgments remain the firm's.
Lists:
- MiFID II Article 16(7) and Commission Delegated Regulation (EU) 2017/565 Article 76 (recording of communications)
Voice Recording Compliance
Recording trader turret phones and mobile calls, timestamped and indexed for compliance.
Lists:
- MiFID II Article 16(7) (recording of telephone conversations relating to client orders)
Not sure which requirements apply to you? Request a gap analysis. All requirements: Requirements our products support.