January 30, 2023

Compliance Solutions

Data security and data protection are a growing concern for all companies but the bar is held higher for companies that fall under the controls imposed by the Financial Conduct Authority.  After the lack of guidance in recent years, the FCA is taking a much more active role in making sure that companies adhere to compliance guidelines and the size of fines are rising as the FCA increasingly sees correct handling of data and system reliability as a major regulatory issue.

How does DATAFORT help us achieve FCA Compliance concerning data transmission?

Conventional backup methods leave data at risk during transport to and from the backup library. DATAFORT uses https and VPNs to secure links between your office and our data centre. The backup updates occur at a block level, which is impossible to turn into clear text, and therefore impossible to read.

Are the backups maintained in FCA compliant locations?

The FCA guidelines suggest that data be stored at least 7 miles away from the business premises in appropriately secure locations. DATAFORT data centres are located outside of key economic centres. During the initial account setup we will select one of our Tier III, financial grade data centres an appropriate distance from your premises. Customers can request guided tours of the centres to assure comfort with the location.

How does DATAFORT assist with the guidelines concerning continuity of service?

DATAFORT offers a variety of services based on the recovery profile you need to serve your clients and meet compliance guidelines. For companies with a low fault tolerance for downtime, our Critical Care service uses virtual technology to invoke copies of your network if there are problems with machine failure or disaster. Our block level update technology keep backups in sync with the production environment allowing us to recover a server within minutes of a reported issue, as it existed just minutes prior to the failure.

How can DATAFORT assist during the audit process?

Part of the FCA compliance guidelines demand that information be presented during an audit within a reasonable amount of time. Preparing for the audit would normally take your staff’s attention away from critical business processes. Customers of DATAFORT can order a read-only data set for presentation to the FCA for audit. Our services include end of month, read-only archives that can be transferred onto encrypted drives for hand-delivery to the FCA.

FCA guidelines suggest regular testing of systems to make sure recovery methods are working as expected.

System reporting and testing is Included as standard in all DATAFORT managed service relationships. A recovery test demonstrating system reliability is completed at the end of all service installations. Yearly DR testing is included without extra charge so that customers can demonstrate their compliance with the FCA standard.