BlackBerry has teamed up with compliance firm VoxSmart to launch a surveillance tool ahead of MiFID II.
The tool combines BlackBerry’s unified endpoint management (UEM) and VoxSmart’s technology to allows firms to capture, record, store and analyse mobile voice, text and instant messaging from WhatsApp.
MiFID II rules will task firms with keeping all records of activities and transactions for at least five years, including telephone conversations, text messages and third-party instant messaging.
In March this year, the Financial Conduct Authority penalised a former investment banker at Jefferies for sharing client information on WhatsApp.
Christopher Niehaus revealed confidential information during his time at Jefferies with a friend and was fined a total of £37,198.
Oliver Blower, CEO at VoxSmart, explained global investment banks and other financial services firms see MiFID II as an opportunity to refine their approach to mobile security and compliance.
Florian Bienvenu, SVP of EMEA sales at BlackBerry, added the new surveillance tool is able to capture conversations on endpoints from a variety of devices including wearables, laptops, smartphones and tablets.