thewealthnet     About Us    |    FAQs    |    Contact Us
 
  Search
 
     
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Mon 19th Feb 2018  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
    
Compliance consultancy launches GDPR service for investment firms
11/10/2017 , News Team

Governance, risk and compliance services provider Cordium has launched a GDPR consultancy service to assist investment firms with preparing for the regulation.

GDPR, coming into effect in May 2018, will introduce a rigorous set of data privacy and security requirements for any organisation that services European clients, regardless of where the company is located. The cost of non-compliance will involve fines of up to EUR 20 million or four percent of annual turnover.

Cordium will assist investment firms with assessing their current policies and practices for processing, storing and protecting data, identify any potential gaps to the GDPR requirements and develop remediation plans. Clients will receive recommendations on the tools they can deploy and the procedures they can implement to ensure ongoing compliance.

Managing director, cybersecurity and data protection consulting services at Cordium, Michael Corcione, said: “Any investment firm doing business in Europe and having EU citizen data is going to have to comply with GDPR. With continuing highly publicized cyber breaches, data security is now mission critical.

“The costs of getting it wrong will be punitive. This new regulation provides a detailed mandate, and any investment manager that treats GDPR compliance as a broader cybersecurity requirement will stand to benefit from tighter data controls and operations. We can support our clients with the specialized expertise and tools needed to secure their data and comply with the highest regulatory standards.”

Cordium first launched its cybersecurity and data protection services in the US last year. Its services are designed to help investment firms understand how GDPR and other regulatory requirements apply to their specific situations. 

Share with Linkedin Share with Twitter
 RATE THIS ARTICLE
Poor   Average   Good   Excellent
thewealthnet archives contain 48,572 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.

 

© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

 
    Latest Headlines:    by Topic | All News
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved