Legal Director explains GDPR to UK companies
Interview: Nina O'Sullivan, Mishcon de Reya
With less than two months before the General Data Protection Regulation comes into force (25th May), Mishcon de Reya Legal Director Nina O'Sullivan comments:
"The GDPR will have a far reaching impact – it applies to organisations across the whole of the EU, including the UK, as well as organisations outside the EU but handling the data of those in the EU. The 25 May is not a hard deadline by which companies must be GDPR compliant; rather, compliance needs to be an ongoing story. As such, it is not too late for companies who have not made any move towards compliance to start.
"Data is an increasingly valuable commodity on which most modern businesses depend. This Regulation readdresses the balance – it gives individuals increased rights over their data and ensures that organisations are responsible for the data they hold.
"The penalties for being responsible for a large scale data breach can be up to 4% of global annual turnover or €20 million, whichever is higher. Whilst fines most probably won't be at this level, the reputational fallout – as we've seen - could be much more, not forgetting the risk of litigation by individuals."
Please contact 0207 637 0656 / firstname.lastname@example.org to arrange an interview with Legal Director, Nina O'Sullivan.