Despite the coronavirus pandemic, companies worldwide have still been required to comply with their mobile archiving requirements. The U.S. SEC is still actively monitoring the markets for frauds and other misconducts. ESMA also expects regulated companies to adopt alternative steps to be able to comply. Lastly, the FCA is doing its best to prevent market abuse.
With all this being said, companies have faced a lot of problems during this crisis. The use of new communication tools and channels has been an adjustment. The markets have also become more fragile and volatile. Data security and privacy threats also abound.
As a response to all of this, here are some things that regulated entities can do to make sure they remain compliant amidst the pandemic.
- Audit all communications after the crisis. Essential business records should be retained. Archive text messages and other mobile communications.
- Sensitive communications should be protected through encryptions. This should be done so that both clients and employees retain their trust for one another.
- Prepare employees to meet the regulatory requirements. They need to be equipped with the necessary tools to minimize the risks presented by the market during this crisis. Company-issued devices can be provided to give employees a device where they can communicate regarding work matters.
To learn more about remaining compliant during the pandemic, here is an infographic by Telemessage. Telemessage’s services can help you with Whatsapp call recording and other compliance needs you may have, so check them out.
