GDPR – what does it all mean?

GDPR – what does it all mean?

The General Data Protection Regulation (‘GDPR’) replaces the current Data Protection Act and comes into force 25 May, 2018. GDPR relates to how businesses store, manage and process personal data across all platforms including servers, PCs, phones, emails databases etc.

Elizabeth Denham, the UK’s Information Commissioner, is quoted as saying, ‘This is the biggest change to data protection in a generation’.

The changes will impact businesses of all sizes and most companies will need to take key steps to ensure that they comply with the Regulation. Failure to comply, could result in maximum fines of £15 million or 4% of global turnover, whichever is greater and at present, you are not able to insure against ICO fines.

Recent surveys have suggested that somewhere between half and two thirds of UK SMEs are still unaware of the impending regulatory changes that GDPR will bring. GDPR is relevant to most functions of your business and covers data relating to employees, suppliers, customers and prospects – anyone that your business is in or has had contact with.

Businesses need to act now in order to be ready for GDPR and action must be taken from a board level. We are assisting many businesses on GDPR, helping them to assess their non-compliance risks and providing remediation support.

GDPR – Essential knowledge for business (free business guide)

We have a team of expert GDPR lawyers who can help your business. Our team have put together a must-read GDPR business guide, which is freely available to download via our Insight legal recourses on our website by clicking here.

James Simpson, our lead GDPR Partner, is also qualified to act as your Data Protection Officer (DPO), should your business fall within the threshold for this GDPR requirement. If you are interested in speaking with our team to discuss how they might be able to help you, then please contact us today on 020 3814 2020.