Open Platform: How Financial Firms Can Minimize GDPR Risk

CompliancePoint's Greg Sparrow advises financial firms how to avoid hefty fines resulting from GDPR non-compliance.

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The General Data Protection Regulation (GDPR) is one of the most important topics facing financial firms today. While banks and financial firms face regulation daily, adhering to the recent GDPR regulations is of key importance. GDPR has raised a number of questions as to whether businesses are properly prepared to comply, specifically in the finance industry where customer data is collected and stored on a regular basis.

GDPR was originally adopted on April 27, 2016 and allotted a two-year

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