The Markets in Financial Instruments Directive II (MiFID II) has been in effect since January 3, 2018, and remains a critical regulation for financial services in the UK and across Europe. As businesses continue to adapt to regulatory changes and technological advancements, staying compliant with MiFID II is essential in 2025.

What is MiFID II?

MiFID II is a regulatory framework established by the European Securities and Markets Authority (ESMA) to increase transparency and standardisation in financial markets. It builds on the original MiFID I directive introduced in 2007 and is enforced in the UK by the Financial Conduct Authority (FCA). MiFID II requires stringent record-keeping of all communications related to financial transactions, ensuring that businesses can provide detailed documentation if audited.

What Does MiFID II Mean for Businesses?

Even if your business is not directly involved in financial markets, understanding MiFID II is crucial. The directive applies to companies dealing in financial products, requiring them to maintain detailed records of communications for up to seven years, including:

• Fixed-line and mobile calls

• Video and conference calls

• Emails, instant messages, and other correspondence

The scope of MiFID II is forward-looking, meaning it includes any new communication methods that may be adopted in the future. Smaller firms classified as "Article 3 companies" can currently use detailed notes instead of recording calls, but this process is labor-intensive and prone to human error.

For larger businesses, automated call recording is essential, ensuring compliance while reducing the administrative burden.

Why Call Recording is Essential

Even if your business isn’t required to comply with MiFID II, call recording offers numerous benefits:

• Regulatory Compliance: Meet existing and potential future regulations.

• Legal Protection: Minimise liability in disputes or misunderstandings.

• Improved Customer Service: Monitor and enhance service standards.

• Market Insights: Use recorded interactions for market research.

• Staff Training: Help employees improve communication and sales skills.

As technology and regulations evolve, call recording is no longer just a tool for compliance—it’s a valuable resource for business growth and operational efficiency.

Future-Proofing Your Business

MiFID II is part of a broader trend toward greater accountability and transparency in all regulated industries. While it currently applies to financial services, similar requirements may soon extend to other sectors involving customer transactions and interactions. Preparing now ensures your business is ready for future challenges.

At Intouch Communications, we emphasise future-proofing your business, providing telecom solutions that not only meet today’s requirements but also adapt to tomorrow’s demands.

How We Can Help

Intouch Communications offers a range of traditional on-site business phone systems and hosted VoIP solutions to help your business stay compliant and efficient. Our systems are designed to integrate seamlessly with your operations, offering features such as:

• Automated call recording

• Secure data storage for up to 7 years

• Easy retrieval for audits or legal reviews

• Advanced reporting and analytics

Whether you’re adapting to MiFID II or preparing for other regulatory requirements, our solutions ensure you remain ahead of the curve.

What’s Next?

If your business is impacted by MiFID II or similar regulations, the time to act is now. Staying compliant not only protects your business but also enhances customer trust and operational efficiency.

For detailed advice or to explore how our telecom solutions can help, contact Intouch Communications at 01252 241000 or send us a message. Let’s future-proof your business together.