U.K. regulators want trader cell phone calls taped

According to MarketWatch, U.K.'s Financial Services Authority wants investment firms to record the cell phone conversations of their traders, the agency outlined in a consultation paper titled: CP10/7: Taping: Removing the mobile phone exemption.

In March 2009, the agency required firms to record "relevant" voice and electronic communications and keep them for six months to discourage insider trading. Cell phones, however, were excluded from the rule.

emily | 9:35 PM | |
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