JWG-IT Works with 12 Banks to Help Firms Comply with Customer Data Regulation

London - Think-tank JWG-IT has teamed up with 12 banks, including Citi and Royal Bank of Scotland, to define what practices firms need to adopt to comply with regulatory initiatives that cover customer data.

The group will submit a formal industry guidance draft brief to the Financial Services Authority (FSA), the UK regulator, in February 2009, with the aim of these guidelines achieving FSA Sturdy Breakwater status. The final guidance will be released on the group's website by early April.