With less than a month to go until the MiFID II legislation comes into force on January 3, 2018, new research has found that only 39 per cent of UK businesses are aware of whether they are compliant or not.
Furthermore, according to the survey, a worrying 92 per cent did not understand the full repercussions of not complying and had not received training.
The incoming General Data Protection Regulation (GDPR) will radically alter the way personal data is collected, processed and stored by data controllers and processors.
One of the more challenging aspects of the new regulation will be that of deleting data, whether at the expiry of an agreement or contract, or as part of a ‘right to erasure’ request, previously known as ‘the right to be forgotten’. Of course, as voice call recordings are considered to be data processing, they will also fall under this remit.