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The Financial Conduct Authority Handbook is a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000. It is administered by the Financial Conduct Authority in London.
The data retention policies within an organization are a set of guidelines that describes which data will be archived, how long it will be kept, what happens to the data at the end of the retention period (archive or destroy) and other factors concerning the retention of the data.
Data must be stored in a format which can be meaningfully accessed now and in the future. Technology reliance If data requires a special program to view it, say, as an image, then software must also be available to both interpret the basic data file and also render it appropriately. In some cases, this might also require special hardware.
Data can be described as the elements or units in which knowledge and information is created, [2] and metadata are the summarizing subsets of the elements of data; or the data about the data. [3] The main goal of data preservation is to protect data from being lost or destroyed and to contribute to the reuse and progression of the data.
SEC Rule 17a-4 is a regulation issued by the U.S. Securities and Exchange Commission pursuant to its regulatory authority under the US Securities Exchange Act of 1934 (Known simply as the "Exchange Act") which outlines requirements for data retention, indexing, and accessibility for companies which deal in the trade or brokering of financial securities such as stocks, bonds, and futures.
Data retention laws and regulations ask data owners and other service providers to retain extensive records of user activity beyond the time necessary for normal business operations. These requirements have been called into question by privacy rights advocates. [35] Compliance in this area is becoming very difficult.
A retention schedule is a listing of organizational information types, or series of information in a manner which facilitates the understanding and application of the identified and approved retention period, and other information retention aspects.