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On 25 May 2018 the General Data Protection Regulation (GDPR) comes into force, replacing the Data Protection Act 1998. The GDPR applies to the processing of personal data and its objective is to protect individuals in this regard while promoting the free movement of personal data. Insolvency professionals will have obligations under this regulation both as professionals and as office-holders in varying situations and capacities.
Insolvency professionals process personal data as partners/employees/consultants of their respective organisations but also by virtue of their appointments as office-holders. They are subject to the requirements of the GDPR in both capacities, and the implications of this can be daunting.
In preparation for the implementation of the GDPR, we have prepared some guidance for insolvency practitioners and their advisers specifically (with subscription to Lexis R&I PSL):
Not a subscriber? Find out more about how LexisPSL can help you and click here for a free trial of LexisPSL Restructuring and Insolvency.
Practical aspects of the General Data Protection Regulation for insolvency professionals
Shining a light on the GDPR—is the insolvency profession prepared?
The General Data Protection Regulation (GDPR)
Key definitions under the GDPR
Data protection principles under the GDPR
As well as many news items under our Practice Compliance and Information Law modules, you can refer to some previous news items under the R&I module, such as:
Data protection by design and by default under the GDPR
The GDPR and employee ‘consent’ for handling employee data
Technology and insolvency—how can startups protect their IP?
Keep an eye out for further notes and news items on GDPR as matters arise following implementation of the regulation.
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