Certified Communications for Financial Services: MiFID II Compliance
TrueScreen certifies every client communication: video calls, phone calls, chat, email. Immutable recordings compliant with MiFID II obligations.
Article 16(7) of the MiFID II Directive requires investment firms to record all telephone conversations and electronic communications relating to trading and client order management. Article 76 of Delegated Regulation 2017/565 specifies the technical requirements: tamper-proof archives, full change traceability, and immediate accessibility for supervisory authorities. The spread of video calls, chat and messaging has expanded the scope of communications subject to recording obligations, while penalties for non-compliance keep rising: in 2024, MiFID II fines across Europe exceeded EUR 44 million, up 143% from the previous year. TrueScreen certifies every communication at the point of capture with a digital signature and qualified timestamp, producing legally valid recordings that meet the retention, integrity and accessibility requirements set by the regulation.
€44.5M
MiFID II fines across Europe in 2024
(ESMA)
$2.2B
SEC off-channel fines since 2021
(SEC)
+143%
Year-on-year increase in EU fines
(ESMA)
Sector
Financial Services and Investment
Business function
Compliance, Risk Management, Front Office, Operations, Legal
Key process
Recording and retention of client communications, compliance with disclosure obligations, dispute management
Certified content
Video calls, phone recordings, chat, email, screen recording
Output
Certified documentation and reporting with legal validity
Adoption mode
App / Web / API / SDK
Needs and challenges
The TrueScreen solution
TrueScreen integrates into the client communication workflow as a certification layer for video calls and all other electronic communications. At the point of capture, each recording receives a digital signature and qualified timestamp compliant with the eIDAS Regulation: date, time, participant identities and contextual metadata become immutable. Certified recordings are stored in archives accessible to supervisory authorities and the client, with full traceability of every access. The firm has legally valid evidence for audits, inspections and litigation.
What gets certified
Video calls, phone calls, chat and email
Video and audio sessions with clients, with immutable contextual metadata, participant identities and timestamp
Phone recordings
Conversations relating to orders and transactions, with digital signature and certified date applied at source
Chat and messaging
Communications on messaging platforms and live chat, with full content traceability
Email and operational documentation
Electronic correspondence, order confirmations and contractual communications, with verifiable chain of custody
Expected benefits
| Business function | Expected benefit |
|---|---|
| Compliance / Regulatory Affairs | Certified archive compliant with MiFID II Art. 16(7) and Delegated Regulation Art. 76, ready for inspections and audits |
| Risk Management | Reduced sanction risk with verifiable compliance evidence and complete chain of custody |
| Front Office / Advisors | Transparent communication certification with no impact on daily client operations |
| Legal | Evidence with full probative value for litigation defence and complaint management |
| Operations / IT | Unified archive for all channels, with compliant retention for 5-7 years |
Partners
Banks, broker-dealers, asset management companies, investment firms, payment institutions, financial advisor networks, trust companies, online trading platforms, regulated market operators.
Integrations
Video conferencing platforms for native certification of client sessions. Telephony and unified communication systems for voice recording chain of custody. CRM and order management systems for automatic linking of certified communications to the client file. Compliance and trade surveillance platforms for monitoring certified communications. Long-term archiving systems for MiFID II-compliant retention of 5-7 years.
FAQ: certified communications for financial services
1) Does certification cover all communication channels?
2) Do certified recordings meet the requirements of Delegated Regulation Art. 76?
3) How is the client notification required by MiFID II handled?
4) Is the solution compatible with GDPR and data minimisation?
5) What is the impact on financial advisors’ daily operations?
6) How are communications on unauthorised channels handled?
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