If it’s on a screen, there is always a way to capture it. So maybe in online meetings, act accordingly?
“Even with these restrictions, you can’t stop a participant from using their phone to record the session or using a separate software application to record.”
This issue reminds me of a time some years back when we were trying to save money on shipping training manuals around and looked at distributing PDF versions, but highly secured PDF versions to avoid people copying them and distributing them. (The manuals were part of the course that you paid for, distributing them gave away part of our training for free.) In the end, no matter what we did, there was always a way around it, and we had to accept that the best we could do was make somebody work hard to do it. So you could only open the PDF with a license, tied to a computer, and you could print it, once (not to PDF), if you wanted a hard copy, which of course, meant that you could also take those printed pages and scan them. We couldn’t really stop that.
The same goes for your video conference meetings. You can disable all the stuff inside the meeting that you want, but someone with a cell phone or screen capture software can still record it.
Seems like it could get very messy, but, we’ve always had the potential for stuff to get really messy, nothing has really stopped folks from printing documents and making dozens of copies of them, and storing them much longer than any standard retention policies, now it’s just on video.