Commission and licenceholders review data security

The Financial Supervision Commission has undertaken a self-assessment exercise on data security with a sample of its licenceholders.

The study identified a number of areas of good practice. Businesses in the Isle of Man are already subject to data protection requirements in respect of personal data so, as would be expected, there was good awareness of the importance of the topic. However, some licenceholders reported one or more areas that they now planned to address.

The Commission has decided to make its questions more widely available, and these can be accessed by following this link. Data security will be included as a feature of future supervisory visits undertaken by the Commission.

Please contact Graham Connor, Compliance Officer at [email protected] or on 01624 689391 for further information