Recording in bridge
Recording in bridge
With the integration of the MiFID recorder in bridge, 34f brokers can record and save their online advice on financial investment products directly in the video consultation software – easily and in compliance with the law.
How Can I Use Recording
in bridge ?
There are two requirements for this:
1. The audio recording function must be activated for your user account. You can see this in your personal settings.
2. You need a user account with MiFID-Recorder. This must be linked to your bridge account so that you can record your online conversations.
Important NOTE! Using the MiFID recorder is only available for bridge business customers. Please contact us for further information.
How to Record and Save Audio
Start a consultation as usual. In the menu at the bottom right of the screen you will find the option “Start Recording” which will start the recording.
The customer is informed about the recording and can refuse it if necessary. In accordance with data protection regulations, the recording only starts with the consent of the customer. The consultation cannot take place without consent.
The audio recording is automatically saved in bridge. The consultant has access to it at all times and can download the file in mp4 format.
Changes in the FinVermV: Taping Becomes Mandatory for Consultants
Since August 1st, 2020, changes to the Financial Investment Mediation Ordinance (FinVermV) have come into force. The innovations include, among other things, the taping or audio recording of brokerage and advisory talks on financial investments. All 34f agents are thus obliged to record their telephone or other electronic customer conversations and to save them for at least five years.
Background Information on the New Regulation
Based on the new MiFID II directive, a new version of the FinVermV was passed. The changes contained therein are intended to adjust the code of conduct and professional requirements of financial intermediaries in order to strengthen consumer protection in the future. According to these guidelines, the consultants now have to revise their courses of action. Failure to comply with the changes may result in penalties such as fines.
What should be considered when recording?
– Ensuring audit security
– Ensuring protection against manipulation
– Storage of records for at least 5 years
– Possible provision of the recordings for customers and authorities upon request