The British Private Equity & Venture Capital Association has issued a Guide to GDPR for the Funds Industry focusing on practical guidance, including explanations of what the GDPR is and why it is relevant for the funds industry. Authors included Sidley lawyers William RM Long, Geraldine Scali, Vishnu Shankar, Francesca Blythe, Denise Kara and Eleanor Dodding.
The GDPR, or the General Data Protection Regulation, is a new EU data privacy law that comes into force on 25 May 2018. The GDPR is intended to provide a single harmonised data privacy law that applies across the EU and is appropriate for the use of Personal Data in the 21st century. The GDPR imposes many new data protection requirements on the collection, use and disclosure of Personal Data which will be relevant to firms and imposes significant fines of up to 4% of annual worldwide turnover.
The Guide describes how key parts of the GDPR will apply to firms and key obligations and issues for firms to consider in dealing with the GDPR. Read more.