100 days to GDPR: The legislation that wealth managers say will have the biggest impact in 2018

Comes into force 25 May

With 100 days remaining until General Data Protection Regulation (GDPR) comes into force, investment managers and wealth managers have ranked the European initiative as the most significant data regulation they face in 2018, according to City law firm Wedlake Bell.

GDPR, which will be effective on 25 May, aims to modernise data law and give consumers the right to know much more about how their information is used and stored. The introduction of GDPR will mean all firms will have to implement more stringent practices, ensuring data is better stored with adequate checks and processes in place to protect it. Research carried out by Wedlake Bell at the Financial Firms Fit for the 21st Century panel seminar, attended by UK wealth and investment managers, found GDPR was ranked as the most significant regulation in regards to drivers for change in the ...