About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Etrali introduces Check Suite to Support Compliance with FCA and CFTC Rules on Call Recording

Subscribe to our newsletter

Etrali Trading Solutions has pulled together functionality it offers around the recording, storing and retrieval of traders’ voice calls to deliver Etrali Check Suite, a solution designed to help firms maintain compliance on the trading floor.

The company previously provided on-site engineer checks of recording solutions as part of a managed service, but has packaged and industrialised the checks to provide a solution that can be used by customers to log into any recorder and make checks. This means Etrali Check Suite can be used not only as part of a managed service, but also by customers that use Etrali to deploy, but not manage, recording solutions and by customers that have deployed recording solutions and need a checking service.

The service is PBX agnostic and includes three key checks that can provide information to help compliance officers understand any infrastructure issues and their potential risks. A health check of recording software and its server helps to ensure the reliability of infrastructure, a recording check listens to random calls and identifies recorded files that may be empty or full of white noise, and a call check matches the number of calls logged by the PBX to the number recorded. All the checks within the Etrali Check Suite can be carried out using the company’s software on site or remotely, with users benefitting from reports and analytics that provide better governance, control and auditability of their recording infrastructure.

Robert Powell, global head of compliance and product management at Etrali Trading Solutions, explains: “Etrali Check Suite gives clients increased knowledge about the functioning of their recording solutions. We make critical information readily accessible so that a compliance team can act on it.”

Considering compliance requirements around voice recording, Powell says the Check Suite will help users comply with UK Financial Conduct Authority regulations on call recording that are enshrined in rule 11.8.5 in the authority’s Conduct of Business Sourcebook, as well as those that must comply with the US Commodity Futures Trading Commission’s record keeping requirements set out in rules 23.202, 1.31 and 1.35.

With Etrali customers recording voice activity on about 4,000 lines on a global basis and about 20% of these using one of the company’s health checks, Powell concludes: “We hope that by packaging our checks in Etrali Check Suite, customers will move towards using all three.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The future of KYC and AML: How to tackle the challenges and gain the opportunities of perpetual KYC

Perpetual Know Your Customer (or pKYC) could be a game changer for client onboarding, due diligence and financial crime compliance. Moving on from today’s reactive approach that conducts client KYC processes at onboarding and typically at one, three and five year intervals, pKYC takes a proactive approach, creating a digital KYC profile and dynamically refreshing...

BLOG

Concern Remains as Delay, Revision and Data Hang Over FRTB

The proposed Fundamental Review of the Trading Book (FRTB) was formulated to protect banks against a repeat of the devastation caused to the sector during the 2008 financial crisis. Initially suggested in 2012, it was drawn up in 2016 by the Basel Committee on Banking Supervision (BCBS), and revised in 2019 with a view to...

EVENT

RegTech Summit Virtual (Redirected)

The highly successful RegTech Summit Virtual was held in November 2020 and explored how business and operating models are adapting post COVID and how RegTech can provide agile and enhanced compliance for managing an evolving risk and compliance landscape. The event featured daily live keynotes, panel discussions, presentations, fireside chats and Q&A sessions with content available on demand over five days.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...