A Customer Data Management Group (CDMG), which includes members of the Futures and Options Association and the Association for Financial Markets in Europe (AFME), was established following comments by participants at JWG Group Limited's 2008 FORUMS, where it was identified that improving customer data was a top priority. The CDMG has produced a work-in-progress industry guidance document, "Maintenance of wholesale customer data", for UK investment firms, in order to begin to address this issue.
The Group has asked the FOA and AFME to make the draft guidance available to members for their consideration and use. We encourage those interested to join the CDMG and help with future development.
The Associations believe this guidance to be a useful contribution to understanding the issues surrounding data management - a subject which might once have been considered to be just a business issue, but which is now also a regulatory matter of increasing focus.
Members with comments on this guidance, or those who wish to become involved in the work, should in the first instance contact Mr PJ Di Giammarino, CEO, JWG, via e-mail at pj@jwg-it.eu . For more information on the CDMG click here.