First published by Robert Van Egghe in Ignites Europe - first published August 31, 2017.
... But Robert Powell, director of compliance at service provider IPC Systems, says his conversations with regulators have left him in no doubt that they expect firms to store any message that may be related to a transaction in any format.
Mr Powell says this could range from clear instructions to a seemingly generic comment like "have you noticed the FTSE is up?"
“It’s a big change in the way asset managers operate. When the extent of what is expected dawns on firms they will choke on the requirements,” he says.
Read the full article here.