So GDPR went live

So GDPR finally went live (fairly quietly) at the end of last week in time for the Bank Holiday weekend.  The main evidence was the onslaught of emails to our personal email accounts checking / advising on the changes (which have become a bit of a blur for everyone….).

So what now?  For many firms, GDPR Audits are now the focus as firms check all the key elements are in place. Having spoken to a number of companies over the past few weeks, including a couple of charities, behavioural changes for both clients and staff will be the key to help bed in the new regulations, encouraging people to think more carefully about the data they are sending and how it is being sent in practical terms.  For adviser firms, client portals are increasingly seen as a great way to securely interact with their clients and support these changes.

Retention policies are another hot topic area.  From the discussions I’ve been involved in and as one press article mentioned last week, retention of client data in Financial Services is varying from 7 years to indefinitely.  It will be interesting to see if any future discussions between the FCA and ICO will help clarify this further for the industry.

For me, GDPR Audits will continue to be one focus over the coming months and watching how this all takes shape.  Also just starting some really interesting non-GDPR projects….