Data protection and privacy

Data Protection and Privacy

Overwhelmed by the onslaught of regulation? Confused by the streams of acronyms?

Frustrated about not being able to articulate their meaning? If the Global Financial Crisis taught us one thing, it is that prudential oversight was wholly inadequate. So, it’s a safe bet that 10 years on, we’ve probably seen the thrust of what needed to be legislated, and now we learn to apply the regulations to our businesses accordingly.

The last 10 years have seen businesses evolve through the opportunities afforded by the internet, where an underbelly of fascinating technology has been transformational. It would be quite a gamble to say how businesses will look in another decade’s time from a tech point of view.

The bedrock of business regulation is set

We are interpreting and taking advantage of the new opportunities of regulation. We can’t afford not to master their substance, so let’s build some logic around their interrelationship. Welcome to the supervisory world and consumer protection in our electronic society.

The EU’s data protection laws have long been regarded as a gold standard all over the world

The watershed moment sits around 2018 with real implementation actually becoming visible just this decade. There has been a veritable tsunami of regulation and you are justified in being overwhelmed by it all. GDPR, PSD2, MiFID II and IDD all hit in 2018. Though each manifestly having their individual raison d’être, their singular common denominator is an explosion of personal data fields that need to be managed securely.

Our Memo provides further insight.