Wealth management

Protect your clients. Future proof your business.

Why strengthening data governance is key to future success.

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Are you ready for the new era of data governance?

Financial service organisations are facing unprecedented scrutiny following recent sweeping regulatory changes. The combination of the changes driven by the Data (Use and Access) Act 2025 (DUAA) and the FCA Data Requirements 2025 have created the perfect legislative storm.

For many across the sector, these updated data requirements for 2025 represent the most significant regulatory change in data governance since MiFID II implementation.

The FCA's 2025 reforms demand real-time reporting, cyber resilience, and board-level accountability. Non-compliance risks regulatory penalties, reputational damage, and loss of client trust. Proactive alignment with these standards will ensure legal compliance, enhance operational resilience, build client confidence, and deliver competitive advantage.

Our latest white paper "Preparing Wealth Management for the new era in data governance" summarise current areas of vulnerability and highlights where action is needed. Click here to download.

With a strong track record of helping financial service organisations, our expertise lies in helping those in highly regulated industries navigate the complex intersections between financial regulation and data protection law.

Testimonials

Securys has been making privacy practical for organisations since 2014. We have considerable experience of working with financial services organisations. Here’s what some of our clients say about us:

Sagicor Group Jamaica is delighted to have Securys onboard as our Data Protection Partner.

Securys collaboration with our team showcases a profound grasp of financial services and a comprehensive knowledge of global and local privacy regulations.

Their practical guidance and support have played a pivotal role in ensuring timely compliance with the Data Protection Act across our extensive Group, effectively safeguarding the data of our diverse stakeholders.

Even though GDPR is the global gold standard from a regulatory perspective, the data privacy domain is highly dynamic. Countries outside the European Union may have adopted GDPR’s key principles, but most have written important variations into their specific legislation.

As a multinational full spectrum financial institution, we must comply with evolving and disparate regulations in 20 markets. Keeping track of the shifting regulatory landscape, separating the “wheat from the chaff”, and translating that insight into actionable pragmatic programs of work is where Securys excels. They indeed make “privacy practical,” which is good business.

By prioritising governance, minimisation, and transparency, firms can turn compliance into a competitive advantage.

Key data protection risks

Understanding how to manage personal data responsibly is critical to success. How many of these risks are relevant for your organisation?

Excessive and Unmanaged Data Collection

Organisations routinely collect large volumes of personal data, often without clear justification or ongoing review.

Data Retention Failures

Data minimisation principles are frequently overlooked, with little evidence of regular deletion or reduction over time.

Rapid Adoption of AI and Data Enrichment Tools

Tools are increasingly used to enrich lead profiles using behavioural / transactional data. These innovations raise questions about transparency, lawful basis, and fairness in automated decision-making.

Inadequate Third-Party and International Data Sharing Controls

Personal data is frequently shared with brokers, insurers, administrators, and trustees, often without sufficient contractual safeguards.

Weak Internal Governance and Security Controls

Some organisations operate with outdated systems, poor encryption standards, and weak internal controls, exposing personal data to cyber threats and fraud.
Special category data (e.g. health, financial, PEP, and children’s data) is often processed without appropriate safeguards.

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The wealth management sector is under increasing scrutiny when it comes to data privacy and governance.

Key take-aways from The FCA’s Data Requirement program

The FCA's latest legislative requirements mandate fundamental changes to data collection, processing, storage, and reporting practices and in particular:

Customer data protection
- Mandatory data minimisation and purpose limitation reviews
- Strengthened consent management protocols.
Enhanced data governance
- Firms must implement formal data governance frameworks with board-level oversight.
Data quality standard
- Regulatory data must meet a 99.5% accuracy threshold.

How we can help

The FCA’s reforms are designed to address the very risks currently prevalent in the sector. Firms that proactively align with these requirements will not only ensure compliance but also strengthen client trust, operational resilience, and competitive advantage.

Securys offers tailored support to help you:

Assess your current data governance maturity
Undertake data privacy audits and assist with compliance
Design and implement compliant consent and data retention / minimisation frameworks
Review third-party contracts and cross-border data flows
Clarify roles and responsibilities across your data ecosystem.

We can act as a flexible resource to support teams working at capacity or to help accelerate progress for teams struggling to meet the exacting requirements by the published deadlines.

Get in touch to discuss your needs.

Resources

Data accuracy

Outsmart the data devils

Data minimisation

Practical considerations why data minimisation is important – less is more

Data retention

To have and to hold: be richer not poorer through better data management

Act now and speak to us.

To start a conversation about how to unlock potential benefits, simply fill out our contact form to arrange an informal chat with our privacy professionals.