FCA and ICO publishes joint update on GDPR The EU GDPR (General Data Protection Regulation) will apply in the UK from 25 May 2018. It is an essential step forward in enhancing the privacy and security of personal data. The GDPR will be regulated and enforced in the UK by the ICO (Information Commissioner’s Office). Financial services firms will need to consider how the GDPR will apply to them, and ensure that they are ready to comply with the regulations from May 2018. Complying with some of the FCA’s rules requires financial services firms to process personal data. Firms have asked us about their ability to comply with both the GDPR and rules made by the FCA. We believe the GDPR does not impose requirements which are incompatible with the rules in the FCA Handbook. Indeed, there are a number of requirements that are common to the GDPR and the financial regulatory regime detailed in the Handbook. Compliance with GDPR is now a board level responsibility, and firms must be able to produce evidence to demonstrate the steps that they have taken to comply. The requirement to treat customers fairly is also central to both data protection law and the current financial services regulatory framework. When the FCA makes rules, we take into account how our requirements will affect the privacy interests of individuals such as firms’ customers and employees, and are open and transparent on why we have made rules in the way that we have. It's good to know Sure Vehicle Solutions are regulated by the FCA and work to current ICO rules on data. Come the 25 May 2018 Sure Vehicle Solutions will comply with the new General Data Protection Regulation act.
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Sure Vehicle Solutions are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 723137
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Registered Office : 26 Berrycroft Lane, Romiley.Stockport, SK6 3AU
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