MiFID

Web & Social Archiving for MiFid II Compliance Requirements.

MirrorWeb can help your organisation comply with MiFID II and other electronic communications regulations

MiFID II Compliance.

New Requirements for Preserving Web & Social Media Records

MiFID II compliance

In 2011, the European Parliament reached an agreement to further develop the Markets in Financial Instruments Directive 2004/39/EC (MiFID) in order to create a more transparent market and better protection for investors.

With its implementation in January 2018, MiFID II has introduced numerous legislation changes that financial services organisations must abide by. One such change is the further tightening of the current record-keeping regulations where firms are now obliged to have a consistent means of capturing, retaining and reproducing records of all activity - whether they are face-to face communications, telephone or electronic communications.

MiFID II: What's New?

The MiFID regulations have been expanded to include additional record-keeping rules,
including such key changes as:

The required capture of all communication types and stages

MiFID II requires firms to keep a record of all communications that either conclude in a trade or confirm a transaction, as well as record communications that may lead to a trade in the future. These include telephone conversations and electronic communications, including instant messages and social media interactions.

Increased Supervision

The National Competent Authority (NCA) or Approved Reporting Mechanism (ARM) will use submitted company records to ensure firms are complying with their obligations.

Request for durable, accessible mediums

Records are to be kept in a durable medium which allows for replay functionality but which also prevents the record from being altered or manipulated. These records must also be readily accessible and available upon request.

Longer retention period for telephone and electronic communications

Firms are now obliged to keep all records of communications for up to seven years (dependent upon local regulatory body requirements). Firms must ensure that both firm-issued and privately owned equipment, whether internal or external, is retained for permanent and contracted employees.

Key features of MirrorWeb.

ISO-Certified & Time-Stamped Archives
ISO-Certified & Time-Stamped Archives

Every archived file is time-stamped, hashed and stored in ISO-compliant files to ensure the security and authenticity of your digital data.

Automatic-Archiving
Automatic-Archiving

Standard monthly crawls for website URLs and daily crawls for social accounts. P.O.A for more URLs/social accounts and crawl frequency upgrades.

Live Replay in high-fidelity
Live Replay in high-fidelity

Fully indexed and searchable WARC’s. Replay content and archived metadata at any time and curate collections in line with Dublin Core.

Free Reporting Suite
Free Reporting Suite

Unlimited user, 24x7x365, free reporting and user-friendly suite with no hidden fees and charges.

Meet Compliance Requirements
Meet Compliance Requirements

Whether it's GDPR, SEC, MiFiD II or REF, we provide digital archiving solutions that meet a wide range of regulatory requirements.

Low-Cost SaaS Solution
Low-Cost SaaS Solution

A low-cost and light touch digital archive solution that requires no infrastructure costs or extra resource burdens on customers.

Text search and page comparison
Text search and page comparison

Full text search across your entire archive and daily digest/comparison reports on all website content.

eDiscovery support
eDiscovery support

All archived website content can be made available to eDiscovery professionals, litigators and other third parties for investigative purposes.

Locally Stored Data
Locally Stored Data

Stay in control of when, where and how, with all data archived in your jurisdiction to ISO standards.

Get started. Try MirrorWeb for free