TeleMessage allows Traders to communicate with customers and others from their mobile:
✔ Full audit of trade details
✔ Execute transactions with greater assurance
✔ Integrate with trade signal broadcasts
✔ Stay compliant with regulations
TeleMessage equips market traders with a compliant mobile archiving solution designed to capture and retain all their text messages – helping them achieve 100% compliance with the electronic communication retention requirements of FINRA, SEC, and IIROC.
Text messaging is considered the best medium for traders who require robust, and fail-safe communication channels. Additionally, text messaging ubiquity helps traders to establish stronger relationships and provide accurate advice to their clients. Finally, text messaging is a powerful and seamless medium for trading firms that must closely monitor traders’ activity and identify issues of non-compliant behaviors.
In line with this, TeleMessage helps trading companies and market traders with their clients through mobile SMS with zero risks of non-compliance with mobile text archiving laws and regulations relevant to their business operations.
With 97% of Americans and 70% of organizations using text messaging for personal and business purposes, it is indeed imperative for broker-dealers to use this platform as the means to engage with their customers and stay competitive. Otherwise, preventing traders from texting would not only limit their productivity, but would also reduce the operational efficiency of the organization, and ultimately – expose them to compliance risks at large scale.
TeleMessage’s Text Archiving for Traders can help:
- ✔ Capture all work-related text messages – regardless of device ownership, carrier, or device platform.
- ✔ Retain all unstructured mobile content accessible in one uniform archiving database, allowing for faster response during a regulatory request, and more efficient internal audits.
- ✔ Produce necessary records of captured communications for eDiscovery more efficiently.
- ✔ Provide an audit trail to regulators to prove compliance with the relevant record retention requirements.
- ✔ Lower cost of database maintenance by allowing firms to store their archived text messages in their preferred email archiving vendor.
- ✔ Monitor employee communication effectively to identify non-compliance with industry standards and company policies, such as inappropriate client conduct, illegal trade activities, and workplace harassment and bullying.
- ✔ Improve employees’ productivity and morale by allowing them to send mobile SMS with their colleagues and clients, which is much quicker than sending emails and but not as intrusive as making phone calls.
TeleMessage captures and retains mobile SMS, as well as MMS, voice calls, emails, WhatsApp Chats, and other mobile content. Messages are securely and reliably retained within TeleMessage servers or forwarded to an archiving data storage vendor of your choice.
Our mobile archiving products securely capture content from mobile carriers and mobile devices for a variety of ownership models (BYOD, CYOD, and employer-issued). With our multiple archiving solutions, you can always find the right tools or blend for your requirements.
Best Practices for Monitoring Mobile Communications
No-Texting Policy is Not a FINRA Defense
2019: Prioritizing SEC and FINRA Retention Compliance
Top Characteristics of Non-Compliant FINRA and SEC Member Organizations
Achieve Regulatory Compliance
Our platform allows for compliant enterprise-wide archiving solutions for financial services:
Financial Services — Supporting Broker and Dealer SEC compliance and FINRA retention requirements
Investment Advisors — SEC regulations
Futures & Transfer Agents —NF & SEC recordkeeping and oversight obligations
Lending Compliance — For with the FFIEC, Fair Lending Laws, Truth in Lending Act or the FTC’s rules on Unfair, Deceptive or Abusive Acts
Investment Dealers (Canada) — Complies with IIROC Rules and Notices and National Instrument regulations
Investment Advisers (UK) — MiFID II compliant