Daily archives "February 12, 2018"

Gobuyside Opinion On The Expected Impact Of The EU GDPR

The General Data Protection Regulations (GDPR) will take effect from May 25, 2018. This regulation, which all member states of the EU must abide by, fundamentally aims at protecting the privacy of personal data in the custody of organizations.

 

Analysis by GoBuyside, a 21st-century recruitment company of global reputation, shows that most organizations will need to rethink how they handle personal data. There is going to be a review of personal data handling processes that fall short of the GDPR requirements. Any necessary changes must be effected to ensure compliance with this new legislation by May 25, 2018.

 

According to a top analyst from GoBuyside, the new regulation holds the controllers and processors of personal data accountable. Data processing will only be done in line with GDPR, which lays greater emphasis on accountability and transparency.

 

Firms in the fund management sector will be affected the most by this legislation. They will have to come up with new technical and organizational procedures aligned to the GDPR. Their mechanisms must henceforth guarantee the privacy of personal data as a fundamental right of the data owners.

 

A top analyst from GoBuyside, specializing in financial analysis, observes that this legislation has a wider reach than the previous one. Previously, data regulation laws covered only firms operating within the EU member states. GDPR requires all organization doing business with citizens of the EU member states to comply regardless of their location. Fund administrators, investment fund companies, distributors, alternative investment fund managers and management firms will feel the impact of GDPR.

 

Any personal data they process, be it of their employees, investors and other officers, will have to be handled within the tenets of this new law. These firms will uphold the fundamental rights and freedoms of individuals, as spelled out in the soon to be effected legislation, through lawful transfer and security arrangement, notifications and processing agreements.

 

GoBuyside has built a reputation in linking clients to talented professionals in Finance. As a recruitment platform based in New York, they have a rich database of experts in investment, trading, corporate development, and investor relations. They have successfully handled the entire hiring process for hundreds of organizations around the world.

 

Their clients include private entities, advisory platforms, and hedge funds. The use of appropriate technology, a highly talented and diligent team of employees, and their access to a network of top talent contribute to their great success.