Rapid technological developments and globalisation have brought new challenges for the protection of personal data. In this regard, the scale of the collection and sharing of personal data has increased significantly, and currently technology allows the use of personal data on an unprecedented scale.
Those developments require a strong and more coherent data protection framework in the Union, given the importance of creating the trust that will allow the digital economy to develop across the internal market. Thus, natural persons should have control of their own personal data and the legal and practical certainty for natural persons, economic operators and public authorities should be enhanced.
In this context, in April 2016 the European Parliament and Council approved the Regulation (EU) 2016/679, on the protection of natural persons with regard to the processing of personal data and on the free movement of such data. Some of the most relevant that are included in this Regulation are the following:
This document prepared by the R&D area of Management Solutions analyzes the new data protection framework defined by this Regulation.
The new Regulation includes, among other aspects, principles regarding the processing of personal data, rights of data subjects, and obligations of controllers and processors.
Scope of application
Protection with regard to the processing of personal data of natural persons and data subjects. It applies to controllers and processors1 established in the EU, and to those not established in the UE when the processing of personal data of data subjects who are in the EU.
Download the technical note by clicking here.
Latest technical notes released:
|Guidelines on credit institutions’ credit risk management practices and accounting for expected credit losses|
|Guidance to banks on non-performing loans (NPLs)|
|Consultation Paper on Guidelines on PD estimation, LGD estimation and the treatment of defaulted exposures|
|Consultation paper on draft Guidelines on internal governance|
|Guidelines on remuneration policies and practices related to the sale and provision of retail banking products and services|
© GMS Management Solutions, S.L., 2017. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.