Samsung sets MiFID II Compliance Officer in the merchant pockets

The product – from company subsidiary Samsung SDS Europe Group are launched – works with the devices Samsung Galaxy Group, the company said on 30 September

The system can prevent other communications solutions that are installed on a cell phone, an erroneous traders would prevent systems with WhatsApp or other coded messages to avoid detection.

noted Samsung SDS that the service for financial services providers have been developed mainly in the light of the revised Markets in Financial Instruments, the

come into force on January 18 set

The new rules extend the scope of employee communications, the need to include banks and other trading companies, and more stringent requirements, as they are monitored to prevent should market abuse.

Adrian Klingenberg, financial sector sales manager, Samsung SDS Europe, said: “There is a lot of CIOs at night to keep awake The scheme is quite in depth covers much more than what it used to be..”

data by the system then detects an institution in central compliance centers uploaded, so that they can be searched and analyzed, Klingenberg.

He said: “One of the key areas in the MiFID II to make the monitoring and analysis, so we strive really, it is very easy access to the raw data to obtain.”

The product can also track a user movement on Google Maps to determine what other applications they use on a device and how much data to the flag, possible irregularities be used.

The move comes as emerging and established technology companies look more tools offer financial institutions to help manage their growing regulatory burden and the regulatory authorities help wrongdoing on site. So-called “regtech” was identified as one of the areas with high growth potential in FinTech how compliance issues in the financial services sector is growing up.

In a study published on 29 September Markit financial information provider IHS estimates that the top 40 predicted global investment banks and top 400 asset managers spend $ 2.1 billion MiFID II guidelines in 2017

meet

The product reflects new rules in MiFID to meet a current wave of new technology, resulting specifically from the need II that existed during the financial crisis one of the most far-reaching financial regulation is to.

Several startups and large companies have, for example, the provision of tools focused on the industry concerned to help II with new rules in MiFID, can pay as fund manager for Research and Corporate Access.

The new Samsung SDS product, called Mobile Voice recording solution, officially started on October 5.


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Our Source: http://www.efinancialnews.com/story/2016-09-30/samsung-mifid-phone-surveillance?mod=rss-fintech

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