For many companies belonging to the finance industry of the United Kingdom, this year's November would see the starting of fresh compliance requirements. The new rules will cover businesses, including the managers of hedge funds, stock brokers, traders, dealers and a number of financial advisers.

The fresh compliance requirements will see that for the first time recording of mobile phone conversations going mandatory.

This change is attributed to a move by the financial regulator of the United Kingdom the FSA (Financial Services Authority) to tackle the menace of market abuse.

Some companies have hoped that the implementation of simple prohibition of employees from using the mobile handsets of theirs for calls related to business would result in staving off the need of implementing mobile phone call recording solutions.

However, this approach faced rejection by the representatives of Financial Services Authority on grounds of insufficient compliance at a Voxsmart-hosted seminar alongside Actiance.