GDPR – what you need to know.
The UK Financial Services industry is a highly regulated sector, continually making improvements to safeguard your finances. On 25th May 2018 new legislation regarding the way we hold your personal information came into force. This regulation applies to companies across all industries that hold personal data, for both customers and employees.
I’m sure your letter box and email inbox have experienced an increase in activity over the past few months, but on the eve of the GDPR deadline, here’s a brief recap:
What is GDPR?
The new General Data Protection Regulations (GDPR) will enhance existing regulations aimed at protecting your personal information. It is designed to give people the right to control their own data, and its aim is to increase public trust and confidence in how personal data is used.
What do I need to know?
The key points are:
- We promise to keep your data safe and private
- We will only use your data for the purposes we agree with you
- We will ask for your consent before sending marketing information to you
What has changed?
Because of these regulatory changes we have made a few amendments to our Terms of Business and Client Agreement. Our clients have been notified of these changes.
This also affects how we hold and use the personal data of our staff and potential clients, and where we are required to share your data with third parties we have agreements with, these changes will safeguard the sharing of your information.
How can I find out more?
This policy includes detail on what data we collect, how we store it securely, who we share it with and how to lodge a concern if you feel we’re not getting it right.