StarLeaf has launched a video conferencing service that enables financial organizations to achieve MiFID II compliance.
The company is a provider of meeting room and management solutions for Microsoft’s UC platforms Skype for Business and Teams. It now offers meeting room systems that are fully-primed with a precise set of functionalities, enabling financial service organizations to comply with the new Markets in Financial Instruments Directive (MiFID II).
MiFID is a European Union law which standardizes regulation for investment services across all member states of the European Economic Area.
The second Markets in Financial Instruments Directive (Mifid II), which was implemented earlier this month, is designed to offer greater protection for investors and inject more transparency into all asset classes. Specifically, new rules dictate that all forms of communication concerning financial transactions are recorded so that there is an auditable trail. Compliance with MiFID II mandates that all video meetings are recorded and all participants logged, including those using meeting rooms.
“Financial service organizations that have adopted Microsoft’s UC platform are well catered for with a raft of enabling technology that supports their compliance,” said Jonathan Williams, Head of StarLeaf’s Microsoft Business Unit. “However, when it comes to video conferences and meeting rooms, organizations are faced with the need to record every meeting and log every participant. Ultimately, this means that room systems cannot be randomly used and every meeting participant must be logged.”
StarLeaf offers its customers a way to achieve compliance by ensuring that all people joining via a StarLeaf Microsoft Skype meeting room system are accounted for and tracked. The company was founded in 2008 by three veteran telecoms and video conferencing entrepreneurs and Cambridge graduates: Mark Loney, CEO; William MacDonald, CTO; and Mark Richer, executive chairman.
Earlier this month, banks invested $38m in Visible Alpha, a startup helping analysts and fund managers cope with regulatory changes, to combat MiFID II challenges, while ResearchPool, a digital platform for investment research, recently partnered with Invest Securities to launch a MiFID II-compliant solution to access reports and analysts.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
