As you may be aware the General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) came into effect on 25th May 2018.
So what impact does this have on your relationship with Roban Financial?
As a Financial Services provider, Roban Financial always upheld strict data protection practices in relation to all data held by us. GDPR Regulation upholds and strengthens the rights of all our clients and we continue to strengthen our data protection practises in this regard.
The principles of Data Protection in the GPDR include:
Personal data must be:
- Processed lawfully, fairly and in a transparent matter (the “lawfulness, fairness and transparency principle”)
- Collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes (the “purpose limitation principle”)
- Adequate, relevant and limited to what is necessary in relation the purpose(s)
- Accurate and where necessary kept up to date
- Kept in a form which permits identification of data subjects for no longer than is necessary for the purpose(s) for which the data are processed
- Processed in a manner that ensures appropriate security of the personal data, using appropriate technical and organisational measures
- The controller is responsible for and must be able to demonstrate compliance with the above principles
What the above is really related to are the basic principles of:
- What information we hold and for what reason
- Where the information is held
- Why we hold particular types of data
- Who has access to this data
Every business/organisation has to adhere to the above principles and actively demonstrate that they are adhering to the principles of GDPR. There must be strict processes and procedures in place which should cover all relevant areas from what information is collected (with written opt in consent) to how it is securely stored and what it is used for.
Roban Financial will now be furnishing you with a Terms Of Business with a strict opt in consent for any marketing material. It is no longer acceptable to opt out.
We will also be providing you with our Privacy Notice when we furnish you with the Terms Of Business. This Privacy Notices sets out the answers to the above information ie. what data we hold and for what reason and outlines your rights now as a result of GDPR.
Our Privacy Notice is also available on our website at the foot of each page.
Roban Financial are treating the introduction of GDPR very seriously, as is warranted, in the best interest’s of all our clients. If you have any queries on data protection within Roban Financial, please feel free to contact us at our designated email address firstname.lastname@example.org.