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ARTICLE · 28 JUNE 2017

The GDPR: What You Need To Know

The new General Data Protection Regulation is the first major revision of Europe's data protection laws for almost 20 years, and takes account of the explosion of technology and social media in that time.

European UnionWealth Management

The new General Data Protection Regulation (the GDPR) is the first major revision of Europe's data protection laws for almost 20 years, and takes account of the explosion of technology and social media in that time. The GDPR takes effect on 25 May 2018, and will represent a fundamental change in the relationship between members of the public and anyone who holds information about them – whether it is a business, a government department or a charitable organisation.

Familiar features

Many people are now familiar with the "right to be forgotten", which will allow people to ask for the erasure of personal data, the mandatory reporting of "data breaches" (a term found in the existing Data Protection Directive that refers to all manner of offences) to regulators within 72 hours of their discovery, the appointment of qualified data protection officers and fines of up to €20 million or 4% of global annual turnover (whichever is greater) for the most serious transgressions.

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