Our Head of Risk and Compliance, Hannah Fry, was featured in the Financial Times Adviser, commenting on the forthcoming General Data Protection Regulations (GDPR). The new data protection legislation comes into effect in May 2018, and introduces new accountability for organisations regarding the processing, storage and use of personal data.
Hannah recently took part in a panel debate at the Association of Medical Insurers and Intermediaries’s Health and Wellbeing Summit. Garreth Cameron, Group Manager, Policy & Engagement at the Information Commissioner’s Office (ICO) addressed the summit prior to the debate.
Garreth Cameron said that businesses should view the forthcoming legislation as “an opportunity, not a burden” and that building trust was a key issue for organisations. He said, “Building system trust and confidence is crucial for long-term success. Regulation can give you the tools to achieve that trust, transparency, control and accountability.”
GDPR will introduce new levels of accountability and governance, and builds on the existing Data Protection Act by enhancing data privacy and security. Hannah Fry said, “Good data protection already exists in the majority of businesses. This is about the demonstration of systems to back that up.”
“This is how we are going to get there – do everything we can to enable us to react as quickly as we can when the legislation arrives. Our big project has been ‘what we have got, where we have got it and why we need to keep it’”, said Hannah.