The new rules in COBS that require firms to record telephone conversations in respect of dealings in certain financial instruments for or on behalf of clients took effect from 6 March. The rules require recording of calls and keeping of emails, faxes and instant messages where an employee has used equipment provided or sanctioned by the firm. There are some exemptions, particularly for calls from mobiles and for discretionary managers.
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COBS telephone recording rules now in force
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Cisco Systems, Inc