New solution enables financial organisations to achieve MiFID II compliance – such as mandatory recording – from desktop to the meeting room
StarLeaf, a leading provider of meeting room and management solutions for Microsoft’s UC platforms Skype for Business and Teams, is the first manufacturer to offer meeting room systems that are fully-primed with a precise set of functionality, which enables financial service organisations to comply with the new Markets in Financial Instruments Directive (MiFID II).
When it comes to video conferences and meeting rooms, organisations are faced with the need to record every meeting and log every participant
MiFID is a European Union law which standardises regulation for investment services across all member states of the European Economic Area. Now in effect, MiFID II features substantial revisions that offer investors protection and transparency across all asset classes. Specifically, new rules dictate that all forms of communication concerning financial transactions are recorded so that there is an auditable trail. Crucially, compliance with MiFID II mandates that all video meetings are recorded and all participants logged, including those using meeting rooms.
“Financial service organisations that have adopted Microsoft’s UC platform are well catered for with a raft of enabling technology that supports their compliance,” said Jonathan Williams, head of StarLeaf’s Microsoft Business Unit. “However, when it comes to video conferences and meeting rooms, organisations are faced with the need to record every meeting and log every participant. Ultimately, this means that room systems cannot be randomly used and every meeting participant must be logged. This is precisely where StarLeaf comes in, we offer our customers a way to achieve compliance by ensuring that all people joining via a StarLeaf Microsoft Skype meeting room system are accounted for and tracked.”
He continued: “Notwithstanding MiFID II and its impact on our customers, we will always ensure that employees can use their conference room facilities with ease. The StarLeaf range of Microsoft meeting room solutions enables financial service providers to meet the MiFID II regulations while presenting a simple meeting room user interface that requires no training to use and is familiar to every Microsoft user.”