UK Financial Conduct Authority
(FCA)

These rules fall under the FCA Senior Management Arrangements, Systems, and Controls (SYSC) framework, specifically SYSC 10. SYSC 10A requires full and accurate records of financial service industry transactions, including telephone conversations, and electronic communications must be retained for at least six months.

The regulations concerning telephone and electronic communication recording to ensure compliance and facilitate effective supervision in the financial industry.

Under the FCA's rules, firms engaged in regulated activities are generally required to record telephone conversations and electronic communications that relate to specified activities. The aim is to enable effective monitoring, detection of market abuse, and dispute resolution. Firms subject to these requirements must have appropriate systems and controls in place to capture, store, and retrieve such communications.