Press Release
FaceTime® Logs and Archives Instant Messages to Deliver MiFID Regulation Compliance
IMAuditor aides November 1st deadline for compliance
BELMONT, CALIF. - September 25, 2007 - FaceTime Communications, the
leading provider of solutions that control greynets and manage Unified
Communications in the enterprise, today announced that its IMAuditor software
enables financial organisations to comply with the new Markets in Financial
Instruments Directive (MiFID) that will go into effect 1 November, 2007 within
the 30 states of the European Economic Area.
FaceTime products, used in conjunction with appropriate records retention
solutions, enable financial services organizations to comply with elements of
the new MiFID regulations by logging, archiving, storing and retrieving instant
messaging (IM) conversations in line with guidelines.
The MiFID directive introduces a single market and regulatory regime for
investment services within these member states. Most companies that are
involved in trading in financial instruments will be affected, in addition to
businesses that deal in advisory services. MiFID replaces the Investment
Services Directive (ISD), and all organisations covered by ISD will be
affected, including investment banks, market data companies, trading platforms
and exchanges.
The Financial Services Authority (FSA), which is responsible for the regulation
of the securities industry in the United Kingdom, will incorporate MiFID into
its FSA Handbook. According to the new regulation, IM is required to be
recorded when orders are received over this electronic communication medium.
Data must be stored for a three year period in a format readily accessibly by
the FSA, and it must not be possible to alter or manipulate the records.
FaceTime's portfolio of products including RTGuardian, IMAuditor and Unified
Security Gateway enable the security and compliance of public and enterprise
instant messaging use over an organization's network. FaceTime works with
strategic partners such as Microsoft and IBM, in addition to email compliance
and archiving partners such as Clearswift, Proofpoint and AXS-One, to provide
interoperable, easy-to-manage solutions for comprehensive IM and e-mail
security and compliance for both enterprise IM and Unified Communications
suites as well as hybrid approaches that incorporate separate email and
consumer IM networks.
"Financial organizations are realising that there are some elements of MiFID
that aren't covered by their traditional IT infrastructures, which are often
designed to secure more static communications like email," said Nick Sears,
Vice Presdident, EMEA, for FaceTime. "Real-time communications behave
differently on the network, and therefore require a different approach to
security and management."
About FaceTime Communications
FaceTime Communications enables the safe and productive use of instant messaging, Web usage and Unified Communications platforms. Ranked number one by IDC for four consecutive years, FaceTime's award-winning solutions are used by more than 900 customers - including nine of the ten largest U.S. banks - for security, management and compliance of real-time communications. FaceTime supports or has strategic partnerships with all leading public and enterprise IM network providers, including AOL, Google, Microsoft, Yahoo!, Skype, IBM, Reuters, and Jabber.
FaceTime is headquartered in Belmont, California. For more information visit
http://www.facetime.com or call 888-349-FACE. The FaceForward blog, at
http://blog.facetime.com, offers thoughts and opinions about the changing
nature of Internet communications.
PR Contact:
Emily Chamberlin
650-762-2945
echamberlin@ar-edelman.com
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