In an age dominated by social media regulated firms, which clearly includes financial services, firms have to navigate rules governing the capture, storage and accessibility of all business records. The new law will require companies with more than 500 employees or annual revenue exceeding €1 billion ($A1.06 billion) to store data for at least two years on their customers. We actually help investors by using it. Getting it wrong puts firms at risk of breaching rules. As the medium continues to embed itself more deeply in everyday life, banning it altogether becomes impractical and impossible to police.
In an age dominated by social media regulated firms, which clearly includes financial services, firms have to navigate rules governing the capture, storage and accessibility of all business records. The new law will require companies with more than 500 employees or annual revenue exceeding €1 billion ($A1.06 billion) to store data for at least two years on their customers. Getting it wrong puts firms at risk of breaching rules. As the medium continues to embed itself more deeply in everyday life, banning it altogether becomes impractical and impossible to police.