Addleshaw Booth & Co, the IT and E-Commerce specialist, has launched a new product to help UK financial services organisations, which need to comply with changes in e-commerce laws coming into effect this summer.
The E-Commerce Compliance Model is designed to help any organisation providing financial services electronically, which will need to review its systems and back office operations to comply with the new legislation.
The European Union's Electronic Commerce Directive for the UK financial services sector is designed to develop e-commerce and stimulate economic growth and investment.
Head of technology and E-Business Law in the City office, Andrew Rogby said: "The impact of this legislation affects almost the entire UK financial services industry and could see many companies facing strict enforcement action by the Financial Services Authority (FSA) if found to be non
compliant."
"We are the first law firm to recognise this as a major issue for the industry and as such have launched a Compliance Model, which through a three-phased approach of audit, analysis and implementation, will guide banks and financial services companies through the process and ensure they have defensible, cost effective steps to compliance."
