Under GDPR, data can only be processed under one of six lawful bases. Here Phil Young examines those that will be most relevant to financial advisers and works through the example of sending out a newsletter
Under the General Data Protection Regulation (GDPR), which comes into force on 25 May, data can only be processed under one of six lawful bases. A different basis may apply to different types of data or how it is processed, but you must be certain which one of these apply: Consent Legitimate interest pursued by a controller Necessity for fulfilment of contract Legal obligation Necessary for vital interests of the data subject Necessity for performance of a task in the public interest The first three, and on occasions the fourth basis, are the most relevant for advisers. C...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
