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---
title: "ESMA Q&A 1770 — Q&A — Recording of telephone conversations and electronic [Answer Published]"
shortTitle: "ESMA Q&A 1770 — Q&A — Recording of telephone conversations and electronic [Answer Published]"
answer_id: ESMA_QA_1770
topic: "Recording of telephone conversations and electronic communications"
status: "Answer Published"
type: qa
instrument_type: qa
authority: ESMA
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binding_character: non_binding
legal_status: in_force
regulation: "MiFIR"
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legal_basis: "MiFIR"
date: 10 October 2016
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1770
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 10 October 2016"
source_url: "https://www.esma.europa.eu/publications-data/questions-answers/1770"
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lifecycle_label: "Answer Published"
---

**Answer by ESMA, published in its Q&A tool · not legislation · published 10 Oct 2016 [Answer Published]**

*Answer Published · ESMA Q&A register, 10 October 2016 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1770)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1770 — Q&A — Recording of telephone conversations and electronic \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1770 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 10 October 2016; question submitted 10 October 2016 |
| **Legal basis** | MiFIR |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Recording of telephone conversations and electronic communications**

### Question

Under Article 16(7) of MiFID II, competent authorities may request that a firm keeps the records for up to a period of seven years, rather than five years. In such cases, what are the expectations by competent authorities on the retention of records?

***

### Answer

\[ESMA35-43-349 MiFID II Investor protection topics Ch3, question 4\]

Firms are required to keep records produced under Article 16(7) of MiFID II for five years, with the extension to seven years, if requested by the competent authority. For example, extensions may occur when a competent authority undertakes complicated regulatory investigations in the course of exercising its supervisory powers. This can also occur, for instance, when the competent authority is conducting an investigation on an issue dating several years prior to the start of the inquiry. If a competent authority has not made a request to a firm to put aside recordings within five years from the beginning of the retention period, the firm does not have to keep those recordings for longer than five years from when the record was created. However, if within five years from when the record was created, a competent authority asks firms to retain the recordings, recordings should stop being deleted and should be retained until the competent authority needs them or the competent authority indicates that the recordings are no longer of interest.

Where a firm has been asked to preserve information which may be of interest and the competent authority subsequently concludes that they have no further interest in that information, the competent authority should inform the firms as quickly as possible. If a firm is unclear on whether it should continue to retain material, it should contact the competent authority for confirmation of the position. Nevertheless, no request from the competent authority can extend the retention period for firms beyond seven years.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1770)