GDPR and financial advice: Consent for data processing

Consent is one of the largest areas of the General Data Protection Regulation (GDPR) and also one of the most contentious. It is far more important in the business-to-consumer arena than it is in business-to-business and is, therefore, highly relevant for financial advice firms. The basic premise is that a data subject explicitly consents to a firm processing their data and sending communications to them. Firms must be able to evidence this consent has been granted to them and that the consent has been captured in a GDPR-compliant manner. A firm could be in trouble with the Informatio...