Today’s GDPR: Summit is a coming together of leading entrepreneurs, marketers and business professionals, on a day that should bring timely answers to questions surrounding watershed legislation coming out of Europe.
Precious momentum will be added to an increasingly pressing issue: nine out of ten businesses have not yet made crucial updates to their privacy policies ahead of GDPR’s implementation, suggesting that many may be sailing complacently into disastrous seas of non-compliance.
According to law firm, Blake Morgan, a high number of organisations are cutting it dangerously close to next year’s May 25th cut-off date, risking huge reputational and brand damage, to say nothing of punishing financial levees.
Why is GDPR important?
GDPR is a vital concern as it will impact upon all companies and organisations that deal with the personal information of EU citizens. Compliance obligations will fall upon all entities whether they are based in the EU or not.
And Brexit is no let-off – the UK’s withdrawal from Europe has no bearing on the need for firms based in the UK to be fully up to date with the new laws.
Those found in breach of the new regulation may be open to fines up to £20m, or 4 percent of annual turnover – whichever is greater. Firms will have to report personal data breaches within 72 hours if said infringements pose a threat to individuals’ rights and freedoms.
But with great danger, there also exists great opportunity. GDPR is a huge shift in data protection obligations, reflecting the needs of a more dynamic, digital age. Firms that take up the compliance initiative stand to make their data handling processes transparent, and more importantly, legal.
Is my firm affected?
The new legislation will apply to firms large and small regarding safe and secure collation, storage and use of personal data. All organisations must comply under law with the legislation in its entirety, while there are some exceptions for firms with fewer than 250 employees.
Like a great corporate spring clean, this is a chance for your firm to really get its house in order so that public trust grows in an era defined by unprecedented levels of concern for data privacy and security.
The time is now
Delegates at today’s GDPR conference in Bishopsgate will be at the cutting edge of the discussion with data handling stake holders from across the global business domain. At the conference’s core will be a day packed with key notes from leading data authorities from a multitude of industries and professions.
An important and insightful day awaits
Among the highlights will be Lord Erroll, Merlin Hay’s early opening remarks in the Consent & Age Related Digital Rights theatre.
The cross-bench member of the House of Lords is also spokesman for the Lords Science Technology Select Committee’s report on personal internet security, and will no doubt be imparting fascinating from the top-level insight regarding changes in the digital landscape that businesses will have to navigate once GDPR comes into play in spring of next year.
Join the debate
If you are in attendance at GDPR: Summit, don’t forget to add your thought and opinion over social media. Follow day’s news via @GDPRSummit and if you’re contributing remember to include the hashtag #GDPRSummit.
Download the app
Enjoy a seamless experience by downloading our event app, where you can also access chosen sessions, view the agenda, speakers, floor map, event feed and much more. The app is a fantastic way to stay current with the conference as it develops.
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DMM will be at the conference, reporting on the very latest from relevant theatres, so stay tuned.
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