Nine out of 10 advisers affected in first year of GDPR - Intelliflo

Rules introduced on 25 May 2018

Julian Marr
clock • 2 min read

Nine out of 10 advice firms have been affected by the introduction of the General Data Protection Regulation (GDPR) this time last year, according to research by Intelliflo, although just one in five said it had had 'a major impact'.

A survey by the financial services IT provider to mark the introduction of the GDPR on 25 May 2018 found 20% of the 170 users of Intelligent Office canvassed reported that preparing for GDPR had a major impact on their daily business. Almost three-quarters (70%) said the rules had had some impact while just 8% felt it had no impact and 2% were unable to say. Asked about the number of breaches their firm has had to report to clients, prospects or the regulator, the survey found 83% of those canvassed had reported no breaches, 13% had reported between one and five breaches and 4% did not k...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Agile IT needed as rapid regulation change becomes the norm

Agile IT needed as rapid regulation change becomes the norm

'Gone are the lengthy consultation and rule-setting cycles that often took several years'

Paul Muir
clock 15 April 2024 • 6 min read
Leveling up the playing field when it comes to picking skilled persons

Leveling up the playing field when it comes to picking skilled persons

Given the prerequisite for accuracy, a rigorous selection process is essential

Richard Farr
clock 15 April 2024 • 4 min read
A practical way forward: Utilising hybrid to close the advice gap

A practical way forward: Utilising hybrid to close the advice gap

Will the FCA's advice/guidance review increase access to advice?

Chet Velani
clock 02 April 2024 • 6 min read