As any readers of CityAm know, the FSA says all fixed line AND mobile calls have to be recorded.
If all Freddie Goodwin's mobile phone conversations are not available for inspection by the auditors, then HBoS's may be forced to hand its banking license back! In theory anyway.
The regulations became enforceable for all mobile communications in November.
As a result CIOs across the City are having kittens. Good.They get paid enough money, they should start earning it for a change.
Still you have to feel sorry for them because the explosion of iPhones, Blackberries and Androids has made this job a nightmare.
And let's not forget tablets. We all know how much fund managers and options traders love their tablets! Ahem.
Mobile operator Tru is hosting an event in The Square Mile on July 13th, that should help CIOs cope with this logistical nightmare.
It has teamed up with Obsidian Wireless, which specialises in mobile voice and data recording, to offer an app-less solution for the banks and the brokers for the City.
We'll be there. Mind you, if anyone's left it until July 13th to start thinking about their mobile recording, then they'll need a miracle. Let's hope Tru and Obsidian can provide it.
This was first published in July 2011