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Compliance Newsflashes: HSBC Locks Down E-Mail With PGP, and more

HSBC Encrypts Email with PGP Gateway Solution, DTCC Enhances to Core Mutual Fund Services, Rule Financial to Offer MiFID Solution, Rule Financial, MiFID, Markets In Financial Instruments Directive, BestX

WS&T Staff

July 13, 2006

HSBC Selects PGP Universal for E-Mail Encryption

HSBC has chosen PGP Universal Series 500 Gateway from PGP Corp. as part of its core business solution to enhance the level of protection over the corporation's global e-mail communications. The product will provide HSBC with additional assurances over the privacy of confidential information and customer data shared with customers and business partners via e-mail and meet the latest information security regulatory requirements.

Data protection regulations such as the U.K. Data Protection Act, the European Union Data Privacy Directive, and California Senate Bill 1386 require that organizations implement internal controls to prevent unauthorized access to confidential customer and company data.

"As a global enterprise, HSBC has to comply with many different information security regulations," said Stephanie Daman, head of information assurance at HSBC, in a release. "We chose PGP Universal because it is trusted globally by business customers and can be adapted to meet the various regulatory requirements."

PGP Universal automatically secures confidential e-mail with PGP encryption and digital signatures at the gateway, based on centrally defined policy. The encryption is completely transparent to the user, and e-mail is automatically encrypted to match recipients' encryption capabilities.

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