2.12. CP07/0 "proposes that firms be required to record telephone lines used for voice conversations that involve receiving client orders and negotiating agreeing, and arranging transactions across the equity, bond, financial commodity and derivatives markets."
An alternative to curb fraud in regards to marketing, it's pretty controversial and worth debating. How will this affect businesses in marketing? This suggests new and extra costs for small businesses already fighting recession in different areas, but with an innovative, entrepreneurial and practical service or product. Especially in the telecommunications industry we are taxed to pieces. I blogged not long ago on one of my blogs about 25% in taxes and fees added on to a $200 origination services bill. Are these policies of call recording of marketing practices being considered in the Americas and elsewhere?
Switch now to http://www.fsa.gov.uk/pubs/policy/ps08_01.pdf.
This addresses outsourcing to keep the compliance neutral, making sure recordings are not manipulated or altered. And what 'reasonable steps' for compliance? What about a backup at disaster recovery sites? Again, cost! Mobile phone marketing is proposed to be included. Difficult. For now, the proposal does not cover mobile phones until further study of how to do so. Records must be kept three years.
Want to know more? Copies of this Policy Statement are available to download from our website –www.fsa.gov.uk. Alternatively, paper copies can be obtained by calling the FSA order line: 0845 608 2372.
Paul Deane, our new EMEA director for DIDX, drew my attention to this pertinent information.
... browse some of our team's other blogs at http://blogs.didx.net and http://blog.tmcnet.com/monetizing-ip-communications/. You're welcome to comment, contribute, and collaborate any time.