“Decisions to restrict communications data sharing increase the complexity financial market players have to deal with when retaining and accessing records across jurisdictions. Invariably, risk and compliance operational processes, such as regulatory reporting and transaction and trade surveillance, depend on access to good data across several jurisdictions. Limiting access to the data due to data privacy concerns could:
- Increase the complexity of maintaining oversight of the processes this data supports
- Affect the operational cost of maintaining and accessing the data itself
- Make it more risky to break data-sharing restrictions, due to the complexity of controls required in the operational and technology environment.”
– Excerpt from “9 Helpful Tips for Better Data Privacy Management”
Read the entire blog which includes nine helpful tips you can do today for better data privacy management.
For more compliance insights, you’ll also want to read: “Countdown to MiFID II: Time for a Zero Tolerance Culture” or watch the replay of our webinar with TABB Group on the same topic.