FSA regulations have led to a 50% increase in the number of brokers using document management...
FSA regulations have led to a 50% increase in the number of brokers using document management software, according to software house Misys.
Brokers are now required by the FSA to retain certain records for prescribed periods. For example, a personal recommendation acted on by a customer must be retained for three years from the date the recommendation is made.
Records must also be available for inspection by the FSA within two business days.
There are now over 1,000 users of the Invu software from Lindenhouse, Misys' preferred document management supplier.