Menu
Are you ready for the recording rules?

MIFID II comes into force in January 2018. One requirement will be for advisers to record all conversations with clients.

The FCA has already ruled out requiring face to face conversations to be recorded but is still considering whether to make IFAs record telephone conversations and electronic communications with clients.

A Financial Conduct Authority (FCA) commissioned survey has shown that only 10% of advisers currently record telephone conversations and electronic communications in line with the proposed EU rules.

Don’t forget to check Our View about this article and the Actions Required By You

Are you ready for the recording rules?

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

Although it is not clear yet which conversations will need to be recorded, any requirements will come into force in January 2018. This might seem far enough away not to warrant any immediate action but the systems needed to be able to record and store client conversations can be costly and can take a fair time to implement. 

Action Required By You

Note and monitor.

SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Template Enhancements - blog Hero

Template Enhancements: Inheritance Tax (IHT) & Pensions

Suitability , , , , , , , , , , ,

To prepare for the introduction of Inheritance Tax (IHT) on pensions starting in April 2027, we have implemented the following template update:   A new wizard question has been added to the ‘Current IHT Position’ table. This allows users to include pension assets in the estate value when calculating a client’s potential IHT liability. Please […]

Read More
epic2

New Content Integration with EPIC Investment Partners

Suitability , , , , , , , , , , ,

We have some exciting news on the latest upgrade to ATEB Suitability on the 4th of December 2024. This update comes at no additional cost and provides a new addition to our content integration library.     We have partnered with EPIC Investment Partners to provide our customer firms with access to the following: A description […]

Read More
iStock-2156168033 [Converted]

New Content Integration with Parmenion

Suitability , , , , , , , ,

We have some exciting news on the latest upgrade to ATEB Suitability on 20th November 2024. This update comes at no additional cost and provides a new addition to our content integration library.     We have partnered with Parmenion to provide our customer firms with access to the following: A description of their service A […]

Read More
budget24

Budget Announcement: Future Tax Year Changes

Suitability , , , , , , , ,

In anticipation of the upcoming increases to the Business Asset Disposal Relief (BADR) rates in April 2025 and 2026, as well as the introduction of Inheritance Tax (IHT) on pensions starting in April 2027, we have implemented the following template updates: A new note has been added to the ‘Current IHT Position’ calculation table, informing […]

Read More
budget24

Budget Announcement: Stamp Duty Land Tax & Capital Gains Tax Changes

Suitability , , , , , , ,

Following the Chancellor’s budget announcement on 30th October 2024, we have updated ATEB Suitability to reflect the changes in Stamp Duty Land Tax (SDLT) and Capital Gains Tax (CGT) rates. The revised SDLT rates are available in the optional Glossary of Terms when making Mortgage Recommendations. For CGT, the updated rates can be found in […]

Read More
Load More