GDPR Implications of the Finance Industry According to GoBuyside

May 25, 2018 General Data Protection Regulations (GDPR) will be enforced for European Union organizations. This new legislation will require companies to better maintain customers’ personal data used by the company. Recruitment platform, GoBuyside, discusses the implications this new legislation will have on the financial market. GDPR, according to GoBuyside, will alter the way companies store personal information. Companies must reevaluate their approach to data protection and implement new changes If necessary.
GDPR is a way to ensure that individuals personal information is protected. GDPR is based off previously enforced regulations. GDPR has now focused more on how personal information is obtained and documented. Companies must improve security feature by implementing new procedures that improve the security of personal information. These procedures will help companies abide by GDPR also has specific ways in which companies should document personal recommendations.

GoBuyside’s financial expert explained that “GDPR will also apply to organizations whose processing deals with offering goods and services.” Companies in the financial industry, such as investment fund companies, will have to analyze how they control personal data. GDPR requires companies to understand how personal data they are taking in and how it is being stored.
GoBuyside’s customer base is elite including Fortune 500 companies, hedge funds, and private equity firms. The 21st century recruitment company was founded in 2011. The recruitment platform built by GoBuyside provides the company with an advantage in sourcing and screening for the most desirable candidates. GoBuyside has over 400 clients and more than 10,000 firms across the globe. The company has placed clients in more than 500 cities. The team that GoBuyside is comprised of has allowed the company to be a top-rated recruitment company. The team is made up of highly experienced professionals who have an extensive educational background. The team selects the highest rated candidates for companies in order to provide the best results. The team allows the company to grow and form stronger relationships within the industry GoBuyside serves.

The company has had several articles posted to Yahoo’s finance section in which the company discusses the future of the financial market. GoBuyside recently discussed compensation with in the private equity sector. The company ultimately stated that “there is no correlation between a raise in compensation and how the firm performs.”

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