GDPR and financial advice: Lawful processing

The implementation of the GDPR has provoked concern around the data retention obligations of financial advice firms in relation to data subjects looking to exercise their rights that may require restriction of processing of their personal data or possible deletion. This has centred on the potential impact on a firm's ability to meet regulatory requirements and/or defend a legal claim should they have to delete personal data. The question of whether a firm is required to delete personal data, or restrict its processing, is addressed in the GDPR and relates in part to the data controller's...