Incoming European data regulations are being recast as an opportunity for financial services to build trust and gain customers, despite the extra burdens the rules will put on businesses.
Earlier this month the European Parliament passed the General Data Protection Regulation (GDPR), updating data protection rules written more than 20 years ago.
Among the provisions brought in under the bill are steep fines worth 4 percent of a company’s global turnover, as well as mandatory breach notification and a consumer right to have their data erased.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.