Does your organization have locations in Europe? Is your business in the Financial Services sector? If so, it is crunch-time to ensure that your organization is compliant with the latest Markets in Financial Instruments Directive (MiFID) II mandates!
Mitchell Weiss joined ISI in 1994. He holds a Bachelor's Degree Management Information Systems from the University of Illinois and a Masters in Business Administration from the Stuart School of Business in Chicago. He is an industry leader in all phases of managing Unified Communications. At ISI, Mr. Weiss is responsible for the vision, strategy, and implementation of a suite of Unified Communications products including Voice and Video Recording, SIP Trunk Management, and Traffic Management. Mr. Weiss also brings his knowledge of Cloud Computing to ISI, allowing the company to create new cloud based models for its software and services.
The trucking industry is facing an extreme shortage of drivers. It is estimated that there is currently a shortage of roughly 48,000 drivers. The shortage is expected to worsen. Because of this shortage, trucking companies are experiencing a rate of turnover of over 100%. The best way to hire an experienced driver is to look to competitors and entice their current employees to switch over. This is often done through sign-on bonuses averaging $5,000. One of our clients told us that, on average, it costs $25,000 to recruit, hire, and train a new driver.
In December 2016, the Financial Industry Regulatory Authority (FINRA) issued over $14 million in fines for violations. A large portion of those were for inadequate supervision and record-keeping. The Securities and Exchange Commission (SEC) rules 17a-3 and 17a-4 set out extensive requirements on how regulated entities must act. One major part of these regulations is the archiving of communications. The regulations state that organizations must preserve originals of all communications received and copies of all communications sent relating to their business, for a period of not less than three years. FINRA has made it clear that instant messages are included in the list of communications.
Skype is a global communications powerhouse owned by Microsoft. Here are some mind blowing statistics:
- There are at least 300 million Skype users globally
- It is estimated that 1.4 trillion minutes of voice and video calls are made on Skype annually
- On an average day, there are 49 million active Skype users
- In 2013, Skype accounted for 40% of the total voice telecom traffic globally
In a recent Wall Street Journal article, it was reported that the House of Representatives was investigating the use of instant messaging within the Internal Revenue Service. It appeared that the IRS was using instant messaging extensively, but not archiving the contents.