ESMA_QA_1774

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1774

---

Regulatory Context

Regulation : MIFIR

Level 1 Regulation: Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Recording of telephone conversations and electronic communications

Subject Matter: Recording of telephone conversations and electronic communications

---

Question

Submission Date: 10 October 2016

Do relevant telephone conversations and electronic communications need to be recorded by the firm from start to end?

---

ESMA Answer

Answer Date: 10-10-2016

[ESMA34-43-349 MiFID II Q&As on Investor protection Ch. 3, question 8] In ESMA’s view, the scope of the requirements require firms to record the entirety of telephone conversations and electronic communications. This is because it is impossible to appreciate upfront whether the conversation will lead to the conclusion of a transaction.  Therefore, ESMA expects firms to record all relevant telephone conversations or electronic communications from start to end.

---

This document was automatically extracted from the ESMA EMIR Q&A database.