GDPR stands for General Data Protection Regulation. It’s a game-changing data privacy law set out by the European Union (EU), and is enforceable from May 25th, 2018. It applies to any investment funds or hedge funds that has European individuals as customers or European based service providers that process data on their behalf.
Investment Funds and GDPR
Don’t be fooled by the law emanating from the EU. Your company being based elsewhere won’t save it from the (rather hefty) penalties that the EU has promised to impose should your business fall short of GDPR compliance when dealing with EU citizen data.
The aim of this new legislation is to help align existing data protection protocols while increasing the levels of protection for individuals, helping customers gain a greater level of control over their data, while offering more transparency throughout the data collection and use process.
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