About Us  |  Testimonials  |  Offers  |  Blog

NB Data logo

  Same day dispatch    5-star service    Expert Advice  

GDPR, MiFID II and PCI DSS regulations & Compliance requirements for Call Recording

Call Recording is an accepted tool for thousands of businesses so it is vital to know the compliance requirements relating to GDPR (Data Protection) MiFID II (financial transactions) and PCI (Credit Card Security).

MiFID & MiFID II regulation by the Financial Conduct Authority (FCA) means that many in the financial services industry including stockbrokers, traders and IFA's (Independent Financial Advisors) must record their transactions including those taken by phone. Recording telephone calls, including mobile calls helps protect consumers against market abuse, helps to prove best practice and resolve complaints.

LATEST NEWS FCA moves to regulate Claims Management Companies and rules that call recordings must be made and kept for 12 months. See more below.

New Data Protection regulation to be introduced in May 2018 (GDPR) will change some of the previously accepted call recording practices particularly in relation to saving and storing personal information and will give consumers the right to opt out of having calls recorded.

PCI DSS is a multi-faceted set of regulations governing the storage of sensitive credit card information. Wherever credit card details are being taken over the phone there must be a way that the 3 digit CSV number is not stored.

NB Data has a range of call recording solutions that will help businesses to comply with any or all the above requirements. We offer three introductory guides to current and new compliance and regulations with regard to call recording below:

Download the NB Data Guides to Regulation & Compliance

NB Data Introductory Guide to MiFID II

Introductory Guide to MiFID II

NB Data Introductory Guide to GDPR

Introductory Guide to GDPR

NB Data Introductory Guide to PCI

Introductory Guide to PCI-DSS

Whatever the size of your business a call recorder from NB Data will very quickly return your investment and here’s why;

But it’s not only business users that benefit from recording a phone call its useful for the home user too in order to;

Some useful references:

 Brief One Page Overview of GDPR, PCI, MiFIDII in relation to call recording