The UK has enshrined the General Data Protection Regulation (GDPR) in national law, as financial institutions scramble to prepare for the “evolutionary” new privacy rules.
The Data Protection Act 2018 has now received royal assent and its main provisions will commence on May 25, 2018, the day that the European privacy reforms enter into full force across the bloc.
Although the regulation is directly applicable throughout the EU, the regulation does allow some opportunity for member states to tailor the legislation to their country.
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