Financial institutions buying and selling shares for clients are now required to hold telephone and email recordings for at least six months, says the FSA
The new Financial Services Authority (FSA) rules regarding the recording of telephone and email communications are now in force, a year to the day after the FSA published its Policy Statement on 6 March, 2008. UK financial institutions that buy and sell shares, derivatives and bonds for clients now need to record telephone calls and email exchanges and keep them for at least six months. This change has been designed to deter and detect market abuse and insider dealing by making it more difficult to commit market abuse offences and easier to gather the evidence to prove these offences.
