Business Insight: Preparing for GDPR compliance
Understanding the potential impact of the new EU legal framework on your organisation and your customers
When the General Data Protection Regulation (GDPR) is introduced across the European Union on 25 May 2018, it will likely leave room for interpretation – in terms of how and what it means to businesses in the different EU member states. One thing, however, is clear: by replacing the Data Protection Directive 95/46/EC, GDPR will represent the most significant change to data privacy regulation of recent times.
The world has undergone considerable change since the era when the last directive was adopted back in 1995, and GDPR is designed to protect EU citizens in an increasingly data-driven world. The aim is to harmonise data privacy laws across Europe and reshape the way organisations approach data privacy. Collection and processing of personal data by third parties, such as collection agencies and credit-reporting agencies, will be legitimised by GDPR.
Our legal experts have been reviewing the potential impact of the new regulation and our clients will receive detailed information on GDPR implementation regarding the necessary provision of information over the coming weeks and months.