The European Union (EU) recently passed new General Data Protection Regulations (GDPR), which will go into effect by May 25, 2018. This means that corporations around the world in EU countries will have to have completed the transformation of their data protection protocol from its existing state to meet GDPR compliance by the effective date. GoBuySide is a financial sector recruitment company. They are particularly affected by GDPR because the focus of the compliance change is to better protect the personal data of individuals.
This new GDPR bill requires significantly more control over the personal data of individuals living in the EU. The business can be located anywhere, but as long as some of their customers reside in the EU the company is obligated to follow the rules of the GDPR. GoBuySide is located in Morrisville, NC and just like any vendor that has clients in the EU, they must adhere to the data protection rules of the GDPR.
— GoBuyside (@gobuyside) January 26, 2018
GoBuySide is a top-tier financial services and investment recruiting firm that offers world-wide staff placements with fortune 500 companies, private equity firms, advisory platforms, alternative investment managers and hedge funds. GoBuySide has a network of top talent around the globe amounting to a little over 10,000 firms and 500 returning clients.
GoBuySide like any other entity that works with residents of the EU has to be compliant with the GDPR. Each organization needs to have a thorough understanding of the flow of their personal data. A company’s efforts protecting data have to be more all inclusive than simply keeping an eye on the data controllers, now the company must have a complete understanding of their data flows. To ensure the rights of each customer being serviced in the EU, the company will need to provide appropriate notifications, make transfer and security arrangements and produce processing agreements.
The GDPR requirements include transparency and accountability for all companies that work with clients within the EU. The new legislation applies to controllers and processors. Every company will be held accountable for their compliance with the requirements for the documenting and analysis of personal data. If demanded those same companies must produce evidence of their compliance with the new legislation of the GDPR.
GoBuySide does business with clients residing in many countries outside of the U.S., some of them in the European Union. GoBuySide has more than two thousand clients in those 98 countries. The company takes great pride in the leaps and bounds they have obtained since their inception. In keeping with their standard, upon embracing the requirements of the GDPR, they are sure to meet and surpass what’s expected of them.