According to research from GDPR legal specialists Collyer Bristow, senior leadership across virtually all sectors needs to take the challenge of data protection more seriously.
From 25 May 2018 when new and stringent GDPR rules come into force, ALL businesses and sectors operating within the EU will be required to demonstrate GDPR compliance or run the risk of business critical consequences.
On May 4 2018, ACI UK and Collyer Bristow co-hosted a hugely informative, interactive and (surprisingly) entertaining round table discussion on the implications of new Data Protection and Privacy regulations and associated obligations. Market participants representing the spectrum of financial markets firms – banks, brokers, e-platforms and buy side firms – entered into a very lively conversation with Collyer Bristow’s GDPR legal experts and Trilogy, their GDPR technology solutions partner.
The discussion continued for some time after the formal part of the proceedings and every ACI participant observed how much they had enjoyed the event – most noting that they hadn’t expected a briefing on GDPR to be so much fun! Our most sincere thanks to Collyer Bristow for providing the venue and their undoubted subject matter expertise on the subject of Data Protection and Data Privacy. We very much hope to do a follow up briefing on new Data Privacy laws.
“The interpretation of ‘personal data’ under the GDPR is very broad…..Businesses need to train their staff both to understand data privacy requirements and to spot and avoid cyber risks…How well prepared a business is and how it responds to a data breach or cyber attack can make the difference between a major and minor business interruption [with the associated risk] of reputational damage and enormous fines.”
Patrick Wheeler, Partner and Head of Intellectual Property and Data Protection, Collyer Bristow