This PAS specifies requirements for maintaining financial services customer data.<\/p>\n
It is for use by financial services organizations that hold and maintain customer information, such as banks, building societies, pension providers, insurance companies and investment management companies. It is also for use by third party administrators (TPAs) who manage customer information on behalf of any of these organizations.<\/p>\n
More specifically, it covers:<\/p>\n
the minimum requirements for achieving and maintaining customer contact;<\/p>\n<\/li>\n
primary and, where present, secondary data to be captured and maintained by financial services organizations;<\/p>\n<\/li>\n
establishing contact with lost customers and beneficiaries;<\/p>\n<\/li>\n
business history profiling including high-level details of any organizational changes, such as mergers and acquisitions, which may have affected the way in which customers contact the financial services organization. In addition, how the organization communicates or makes this information available to its customers;<\/p>\n<\/li>\n
timeframes for any review and, if required, updating of customer contact data; and<\/p>\n<\/li>\n
the organization\u2019s data quality management (DQM) policy.<\/p>\n<\/li>\n<\/ol>\n
It does not cover:<\/p>\n
initial data capture and its accuracy;<\/p>\n<\/li>\n
data and accuracy in respect of customers\u2019 financial assets;<\/p>\n<\/li>\n
technology used for data storage, data transformations and data transmissions;<\/p>\n<\/li>\n
data protection;<\/p>\n<\/li>\n
bankruptcy data;<\/p>\n<\/li>\n
anti-money laundering (AML) requirements;<\/p>\n<\/li>\n
bodies corporate; and<\/p>\n<\/li>\n
financial services organizations that are authorized and regulated outside the UK.<\/p>\n<\/li>\n<\/ol>\n
| PDF Pages<\/th>\n | PDF Title<\/th>\n<\/tr>\n | ||||||
|---|---|---|---|---|---|---|---|
| 5<\/td>\n | \t\tForeword <\/td>\n<\/tr>\n | ||||||
| 7<\/td>\n | \t\tIntroduction \t1\tScope <\/td>\n<\/tr>\n | ||||||
| 8<\/td>\n | \t2\tTerms, definitions and abbreviations \t2.1\tTerms and definitions <\/td>\n<\/tr>\n | ||||||
| 10<\/td>\n | \t2.2\tAbbreviations \t3\tBusiness profiling <\/td>\n<\/tr>\n | ||||||
| 11<\/td>\n | \t3.1\tBusiness profiling exercise \t3.2\tThird party administrator (TPA) <\/td>\n<\/tr>\n | ||||||
| 12<\/td>\n | \t4\tData quality management (DQM) policy \t4.1\tGeneral \t4.2\tDQM policy content <\/td>\n<\/tr>\n | ||||||
| 14<\/td>\n | \t5\tMaintaining customer contact \t5.1\tGeneral \t5.2\tCommunication with the customer \t5.3\tChecking procedures <\/td>\n<\/tr>\n | ||||||
| 15<\/td>\n | \t5.4\tReissue of correspondence \t5.5\tManagement information <\/td>\n<\/tr>\n | ||||||
| 16<\/td>\n | \t6\tData to be maintained \t6.1\tPrimary data \t6.2\tSecondary data <\/td>\n<\/tr>\n | ||||||
| 17<\/td>\n | \t7\tTracing lost customers \t7.1\tGeneral \t7.2\tMinimum steps \t7.3\tFurther steps <\/td>\n<\/tr>\n | ||||||
| 18<\/td>\n | \t7.4\tEvidence \t8\tTracing executors and\/or beneficiaries \t8.1\tGeneral \t8.2\tMinimum steps <\/td>\n<\/tr>\n | ||||||
| 19<\/td>\n | \t8.3\tFurther steps \t8.4\tEvidence \t9\tTimeframes for action \t9.1\tFrequency of review <\/td>\n<\/tr>\n | ||||||
| 20<\/td>\n | \t9.2\tTimeliness <\/td>\n<\/tr>\n | ||||||
| 21<\/td>\n | \t\tBibliography <\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":" Specification for the maintenance of financial services customer data<\/b><\/p>\n |