On November 11, the UK Financial Services Authority (FSA) published its Policy Statement 10/17 (feedback on its “taping of mobile phones” consultation and final rules). This follows the FSA’s consultation paper CP10/7 of March 2010, which proposed the removal of the mobile phone exemption from the FSA taping rules. The CP10/7 consultation period ended in June of this year.

The FSA confirmed that the exemption will be removed. As a result, from November 14, 2011, the following will be required of FSA regulated firms...