Daisy Group warns financial firms to respond swiftly to FSA regulations

Daisy Group is warning Financial Services Authority (FSA) regulated firms to act fast before new rules on mobile call recording come into force this year.

The company, working in conjunction with Compliant Phones, the UK’s leading independent mobile and voice recording company, has today put to market a unique solution set to benefit companies being told to record all mobile voice and data from 14th November 2011.

Whilst in the past, organisations in sectors such as healthcare, financial services and government were legally obliged to record calls on fixed lines, it’s only since the technology has developed that the Financial Services Authority (FSA) has widened the net to include mobile recordings.

Chris Jagusz, Managing Director of Daisy Retail, said: “When the FSA’s new rules on landline recordings came into play, we knew it wouldn’t be long before mobile voice and texts were included.

“This gave us the perfect opportunity to explore the market and find the best technology for our customers.

“We’re pleased to say that Daisy Mobile Recording is an extremely reliable way to automatically record mobile voice and data across any network, worldwide, and it provides the customer with an excellent user experience.”

The FSA first published rules on recording landline phone conversations in 2008 and said it would review the exemption on mobile call recordings after 18 months, giving chance for the technology to be developed.

On 14th November 2010, the FSA removed this exemption and gave businesses 12 months to comply with the new legislation.

Jagusz added: “It is literally a matter of months now before regulated firms will have to record and keep for six months copies of all relevant conversations made on mobile phones.

“Businesses need to be looking at the options available to them now to avoid leaving it to the last minute, or face being presented with a hefty fine.

“There are a number of good products out there, but they don’t all work in the same way. We’ve developed a solution that fits companies’ needs and provides added benefits to your business.”

Curtis Nash, Compliant Phones’ CEO, commented: “With the FSA mobile recording and data regulations only a few months away, the financial services community needs a solution now. Our technology is reliable, easy to install and will work across the globe. Put simply, traders will not experience any unnecessary disruption by using Compliant Phones’ recording solutions.”

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