GDPR – Is your Fund ready?
Etain de Valera
21st September 2017
Countdown to GDPR
- General Data Protection Regulation - Regulation (EU) 2016/679
- Replaces existing data protection law in all member states on 25 May 2018
- Designed to result in single, uniform set of data protection rules applying across the EU (EU Regulation instead of EU Directive)
- Retains and enhances existing data protection concepts and requirements
- Increases obligations on controllers/processors
- Affords new rights to data subjects
- Now is the time to act!
Key Data Protection Terminology
- Definitions (Article 4) – Similar to existing regime
- Personal data – relates to identified or identifiable living individuals (not anonymised data)
- Processing – widely defined – includes any collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure, erasure or destruction of data
- Controller – entity which determines the purposes and means of processing of personal data –
- Processor – entity which processes personal data on behalf of controller – e.g. outsourced service provider
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