On 18 March 2010, the FSA published Consultation Paper 10/7: Taping: Removing the mobile phone exemption (CP10/7).
In March 2008, the FSA published Policy Statement 08/1: Telephone recording: recording of voice conversations and electronic communications (PS08/1). In PS08/1 the FSA set out final rules requiring firms to record ‘relevant communications’ and to keep them for six months. These rules, effective from March 2009, were mainly aimed at tackling market abuse. All mobile communications (except emails) were excluded from these rules, mainly because the technology used to capture these communications was insufficiently developed.
In CP10/7 the FSA consults on proposals to remove the exemption for recording mobile phone communications. The deadline for comments on CP10/7 is 14 June 2010. The FSA will finalise its proposals and issue a Policy Statement in Q4 2010.
View Consultation Paper 10/7: Taping: Removing the mobile phone exemption, 18 March 2010