GDPR – the dawn of a new era in data security and usage
As you are no doubt aware, the General Data Protection Regulation (GDPR) was first introduced in April 2016 by the Information Commissioner’s Office (ICO) and the new regulation must be adopted by every UK firm that handles personal data by the 25th of May 2018.
When we issue our regular updates about changing policy, there normally follows an outline of the criteria of firms to which the new regulation applies. However, GDPR is an anomaly; it will need to be adhered to by every single member of The SimplyBiz Group. Every financial adviser will have to fall in line with the requirements of GDPR, as will every accountant, dentist, dog-walker and carpet cleaning firm!
In short, any business that holds the details of past, present or potential clients will need to ensure that it is operating in a manner compliant with GDPR. In addition, even though this is an EU wide law, as the UK government played a major hand in writing the legislation, it will be transposed fully into UK law, even once the UK has made its exit from the EU.
With the May deadline starting to loom ever closer, we would urge all firms to consider what you need to implement, how you’re going to approach it and by when everything needs to be in place. As GDPR is governed by the ICO, rather than the FCA, you may not receive information about it in the format to which you’re accustomed and, with this in mind, we are kicking off our GDPR support this month, designed to provide you with the information, support and guidance you need, in a way that makes sense to your business!
The SimplyBiz Group GDPR Programme
Due to the potential implications of the new requirements, we have pulled together a dedicated steering committee within the
Group to pool our collective knowledge and resource to ensure that we are able to provide you with the right information at the right time.
From here, we have put together a framework on which to base our delivery, and to provide you with a clear and transparent structure of support in what is rapidly becoming an overly complex area.
Communications and ongoing support
As well as our dedicated hub, you can expect an array of ongoing communications, videos, coverage at our core events, guides and more as we ramp up towards the May implementation deadline and beyond.
Keep an eye out for more information coming your way in the coming days and weeks; the GDPR hub will be updated with more material and guidance on a regular basis.
The GDPR Hub
First of all, we are launching a dedicated hub within the Member or Client Firm websites. The hub is designed to provide you with a single entry point from which to access relevant information and supporting documentation.
The hub follows this simple framework:
View Adviser Today here