ICT Reverse compliance director Ken Parker tells Mobile News new departments will form to deal with freedom of information requests, as a consequence of MIFID 2
With MIFID 2’s recent release and the impending GDPR legislation I strongly believe companies within the UK, and indeed the greater economic union, must be mindful of the compliance required when dealing with data security across their data bearing estate.
As a result, I expect entire new departments to be set up to deal with the free FOI requests within larger online companies such a social media.
The new legislation places more controls and increased fines on data breaches. Conforming to data security legislation has become a must in the eyes of senior management not a cost to risk-based analysis decision as in previous years.
In 2018 I also expect to see the use of crypto currency and block-chain based computing platform features within company security processes and procedures will also increase.
Alongside this, the numbers of encryption and other security creative companies coming to the market alongside existing players will increase and data security will become one of – if not the fastest-growing – industries in 2018.