We are not talking about GDPR or the rough Australian equivalent here in reference to Norwood. GDPR is an exceedingly broad regulation which affects basically any company which retains data on customers. (If I recall correctly, none of Norwood's announcements reference GDPR)
"highly regulated" industries in the Norwood context refers primarily to the financial services sector, but also potentially healthcare etc. Mostly this about needing to ensure any text messages from advisors to clients are recorded, or if you cant record them, then making sure they don't text clients.
In Europe, it is MiFID II. Some commentary here:
https://www.truphone.com/globalassets/assets/whitepapers/truphone-mifidii-mobile-policy.pdf
It continues:
(I will say that the quoted report comes to the conclusion that the solution is to let Truphone record all the conversations and texts, not use an app such as the World apps. Needless to say, Norwood believes differently.)
In the US, is is FINRA regulations: http://www.finra.org/sites/default/files/notice_doc_file_ref/Regulatory-Notice-17-18.pdf
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