Data essentials

A data management policy is essential for effective compliance argues Mike Pritchard of Centera Europe, EMC.

Mike Pritchard may be contacted at Pritchard_Michael@emc.com, www.emc.com

The FSA currently regulates some 11,500 organisations according to its Risk Assessment, Tools and Evaluation [RATE] process, a figure set to rise by an estimated 25,000 (FSA Business Plan 2004/5) when mortgage and general insurance businesses are brought within its remit. From desk-based reviews and liaison with other agencies or regulators through to use of independent auditors, all of the FSA’s inspection methods are likely to call for delivery of records, ranging from personal correspondence to audit documents.