FSA 'Taping' Rule Less Costly Than Anticipated?

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The recent Financial Services Authority's (FSA's) policy statement PS 10/17 concerning the recording and storage of voice data has lead to concerns in the City that complying with such a mandate could cost of up to £10,000 per device per year.

As of 14th November 2011, the FSA will remove the present exemption, which applies to mobile (cell) phones and other hand-held electronic communication devices, from its taping rules. The rule will apply to about 16,000 mobile phones of financial employees

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