Fenergo: Getting to Grips with GDPR: Record-Keeping, Data Erasure & Client Offboarding

On May 25th, 2018, a mere eight months away, the biggest overhaul of EU data protection law will come into force for all EU Member States with the introduction of the General Data Protection Regulation (GDPR).

GDPR will impose substantial financial penalties on firms who fail to meet the new rules on the management of personal data of EU residents. Under the new regulation, banks could see fines of up to €10m or 2% of their global turnover or up to €20m or 4% of global turnover (or whichever

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