How will the new data regulations affect my business?

07 Aug 2017

Business

The new General Data Protection Regulations (GDPR) will come into force in the UK on 25th May 2018, replacing the current Data Protection Act 1998.

Although the General Data Protection Regulation (GDPR) is an EU initiative, UK businesses will be expected to comply with the new regulations after Brexit. Businesses that fail to comply with the new regulations could find themselves facing penalties and being fined up to €20 million or 4% of their annual worldwide turnover.

Commenting on the proposed Data Protection Bill, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), said: “Businesses up and down the country are already preparing for the implementation of the EU General Data Protection Regulation (GDPR) next year. Bringing these measures into domestic law now will give businesses more certainty about the UK’s data protection regime during the Brexit transition, but more communication is needed to ensure that every company is aware of the changes.

“Firms of every sector want to be sure that their trade with suppliers and customers around Europe can continue without interruption, which means that the long-term compatibility of UK and EU data protection rules must be a priority.

“While consumers need assurance from business that any personal data held will not be misused, businesses too need a helping hand from government as these changes come into effect, particularly those at the smaller end of the scale. This is a complex set of changes, so firms must be helped to get them right – and no small- or medium-sized business working hard to adapt to the new regime should be hauled over the coals for unintentional mistakes in the early days. We await further information when the Bill is published later this year on whether the proposals meet these tests.”

St Helens Chamber is hosting a FREE breakfast briefing event on the 11th October 09:00am-10:30am, to provide information on the new regulations, the actions you should take now and implications of non-compliance. The briefing will be delivered by Karen Harris, Senior Policy Officer from the Information Commissioners Office.

For more information and to book click here or contact the events team on 01744 742028 or email events@sthelenschamber.com