Apr 13, 2018

On May 25th, 2018, the General Data Protection Regulation (GDPR) will formally take effect. The amount of data amassed on clients means that the provisions outlined in the GDPR will have a significant impact on the costs and operations of the banking industry in general and private wealth management in particular.

This report explores the various articles of the GDPR as they impact the banking industry at large, as well as specific provisions that should be noted by private wealth managers. Furthermore, it addresses regulatory gray areas relating to Brexit, supervisory competency, and international data transfers. Lastly, it provides a case study of how a major bank is implementing GDPR and a broad outline of the ways in which private wealth managers can best prepare for the new regulatory environment.

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