As Regulators Crack Down with Major Fines, Firms Now More Than Ever Need an All-in-One Communication Capture and Analytics Solution

In 2019, few firms envisioned their traders would need to work from home, and that these employees would still need to be recorded. And in 2020, the Covid-19 pandemic completely uprooted the way we live and work. This new work-from-home (WFH) environment caused a rapid adoption of non-traditional communication modalities, including unified communications – and recording of regulated employees was still mandatory across these platforms.

With WFH practices becoming the norm, regulators left little wiggle room for firms to skirt regulations around record-keeping and surveillance. And 20 months later, as regulated employees are still working from home, regulators are cracking down once again to ensure the lasting effects of the Covid-19 pandemic would not damage the integrity of the market, increase the risk of financial crime, or harm customers.

In October 2021, The Financial Conduct Authority (FCA) warned regulated financial advisers to ensure remote working staff know they could face visits at home. "It’s important that firms are prepared and take responsibility to ensure employees understand that the FCA has powers to visit any location where work is performed, business is carried out and employees are based (including residential addresses) for any regulatory purposes," said the FCA (Reuters). The SEC on December 10, 2021 announced it has fined a global bank $200 million for lapses in its communications monitoring (Reuters). With this news, it is now more important than ever that firms have a robust system to record and retain trade conversations from turrets, desktop phones, mobile phones, and unified communications platforms.

NICE Compliance Recording (NTR-X) provides one system to record and manage all communications. It adapts to all the different ways your regulated employees communicate, whether they’re using unified communications platforms (like Teams, Symphony and Cisco Webex), IPC Unigy or other turrets, Cloud9, mobile phones, or PBX (desktop phones). Additionally, NTR-X ensures seamless recording, archiving, and retention of regulated employee communications (across voice, video, chat, screen sharing, document sharing and more), irrespective of where employees are working or the devices/modalities they’re using to communicate.

As part of an end-to-end, fully integrated NICE Compliance Cloud suite, NTR-X is the only Microsoft Teams recording solution that can bridge communications capture and surveillance. It does this by working alongside NICE’s SURVEIL-X Holistic Conduct Surveillance solution. Using advanced analytics and AI (including Natural Language Understanding), SURVEIL-X can accurately detect all types of market abuse and conduct risk, by monitoring regulated employee communications across every communication channel (voice, email, video, sms, chat, etc.) and platform.

Offering one solution for firms’ compliance capture and surveillance needs, NICE ensures your firm can confidently comply with all global regulations, across all communication modalities, and from all working environments.


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