Month: January 2018

Easy transfer of Data with European Union beyond Brexit relies on embracing GDPR

While the General Data Protection Regulation (GDPR) is being put forward by the three European regulatory bodies, it will still apply to the UK during the Brexit negotiations and implementation period. Therefore, it is an Organisation’s responsibility to ensure they are “GDPR ready” even though the UK is leaving the European Union.

However, many Organisations may worry about how freely data can be transferred post-Brexit. I believe there is a simple answer to this. The sharper an organisation integrates GDPR into the regulatory stature of the organisation, the easier they should find it to transfer data with the EU once the United Kingdom has relinquished its membership.

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Exonar joins forces with MyLife Digital – for the good of trees

Newbury based Exonar has joined forces with MyLife Digital to provide an end to end solution to organisations who need to solve their General Data Protection Regulation (GDPR) problems, especially when it comes to Subject Access Requests (SARs).

GDPR has been around for two years, the enforcement date is set as 25th May 2018 – from this date the Information Commissioners Office (ICO) will be holding UK organisations accountable to the principles of this legislation rather than the Data Protection Act. As information about the GDPR has been available since 2015, there will be no further grace period – basically, we are already in it.

So, has your organisation used the last two years to prepare for the changes? Do you know where all the data is? Who has access to it? When was it collected and which Privacy Policy was in place at that point in time?  How do you retrieve all the information required if a customer requests to see it? – Possibly not, but you are not alone.

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MiFiD II has now launched – Will the GDPR launch go the same way?

As with any significant legislation change, people will have their say and opinions. The MiFID II (Markets in Financial Instruments Directive II) deadline came and went on the 3rd January 2018. Sophie Guibaud, VP of European Expansion at Fidor Bank spoke to BobsGuide Reporter David Beach, “MiFID II is a key piece of European-wide legislation. This regulation, along with the incoming GDPR piece of legislation, means that financial organisations will be looking at immediate options to help them decrease their regulatory risk and costs, while also improving the customer experience this year. The new regulations will have a huge effect as financial organisations’ relationships with regulators will rely upon real-time data to be shared to improve and speed up risk management and market stability, all through the power of APIs.”

The concerns, challenges and expectations from various industry leaders have been collated by BobsGuide and the full article can be found via this link.

So, is this a taste of things to come in May when the General Data Protection Regulation (GDPR) finally lands after two years in the making? Will organisations be better prepared for the change from the Data Protection Act?

We’d like to think so, but the clock is ticking.

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