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24 April 2018

Why every APAC financial institution and outsource provider to EU financial institutions should be thinking about GDPR

The General Data Protection Regulation (GDPR) is an EU-wide regulation coming into force from 25 May 2018. It will impose a strict data privacy compliance regime on organizations everywhere in the world that collect, process or if they come into contact with the personal data of individuals residing in the EU.  The new regime captures many Asia-Pacific (APAC) institutions that trade directly or indirectly with EU residents and individuals located in the EY, or process EU customer data through indirect secondary relationships with EU financial institutions around Asia that have increasing customer interests in Europe. To be clear, if your institution offers financial services to, or monitors the behavior of, individuals in the EU — either directly or through indirect relationships — then the GDPR applies to you.

Document ID: 2018-5554

 
 

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