GDPR Law and Regulation
Punit Bhatia
15 years: Data privacy & GDPR
In the second video of his series on “GDPR”, Punit takes us through the history of privacy laws along with the objective of EU GDPR, he also defines concepts like personal data and processing and finally talks about the role of DPO’s and authorities.
In the second video of his series on “GDPR”, Punit takes us through the history of privacy laws along with the objective of EU GDPR, he also defines concepts like personal data and processing and finally talks about the role of DPO’s and authorities.
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GDPR Law and Regulation
13 mins 5 secs
Privacy laws provide rules for the processing of personal data, which is any information that directly or indirectly identifies the person, and processing is any action that is taken upon personal data. Privacy laws are not a new phenomenon, but digital and technical developments around us demand that privacy laws be modernised. And that is what EU GDPR does in the European Union.
Key learning objectives:
Outline the objectives of EU GDPR
Define Processing and Personal Data
Outline the role of the CFA
Know who a Data Protection Officer is
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What are the objectives of EU GDPR?
The EU passed the General Data Protection Regulation (GDPR) in the year 2016, which came into effect on May 25, 2018, was different from other privacy laws and is often referred to as “the gold standard in privacy laws” for 5 key reasons:
- GDPR laid our clear rules for the processing of personal data of individuals, based in the EU
- GDPR empowered individuals with rights and freedoms to be more in control of their personal data
- GDPR laid out processing requirements for organisations that process personal data, and stipulated that accountability of ensuring compliance laid with the organisations.
- GDPR provided the Data Protection Authorities with powers to audit and fine organisations that do not comply with data protection rules
- GDPR emphasised the conditions for the transfer of data
What is Processing and Personal Data?
Processing is any action that is taken upon data. This includes , reading, collecting, writing, managing, recording or deleting of personal data.
Any information that can help identify a person by itself, or in combination with other information is personal data. When personal data provides information about one’s genetic, criminal, racial, political affiliation, or biometric information it is called Sensitive personal data.
What is the role of FCA?
The Financial Conduct Authority or FCA is the conduct regulator for financial services firms and financial markets in the UK.
The FCA has the following objectives:
- Protect consumers – the FCA secures an appropriate degree of protection for consumers
- Protect financial markets – the FCA protects and enhances the integrity of the UK financial system
- Promote competition – the FCA promotes effective competition in the interests of consumers
Who is a Data Protection Officer?
A Data Protection Officer (DPO) is a person who helps a company operate within the law by advising and helping to monitor compliance. They play a key role in an organisation’s data protection governance structure and help improve accountability.
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Punit Bhatia
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