GDPR and financial advice: The right of erasure

Ramifications for advice firms

clock • 9 min read

In the first of a series of articles based on the initial meeting of the Intelliflo GDPR Working Group to discuss the ramifications of the GDPR for financial advice firms, Rob Walton considers the right to erasure

The right to erasure is a fundamental part of the General Data Protection Regulation (GDPR), enabling individuals to request firms delete them from their records. At its core, this right is based on the notion of ceasing processing where there is not a lawfully justifiable reason to not comply with the request. As an example, if you are receiving emails from a firm you no longer have an interest in, or never had an interest in, you can request they delete your information from their system. The working group highlighted a legal case brought in Spain in 2014 as an example of the respon...

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