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The comms industry's preoccupation with the advent of GDPR next May has overshadowed another EU data protection regulation due to come into force in 2018, which is set to have a big impact on the financial sector, according to Gamma.
"MiFID II comes come into effect on January 3rd and it will change the way financial services businesses record and store both landline and mobile calls," said a spokesperson.
"Businesses will be required to record and keep the communications of every active participant in a transaction, and retain these records for at least five years, in some cases seven."
MiFID II is a significant opportunity for partners to sell cloud-based fixed line and mobile call recording to the finance sector, noted Gamma.
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