The GDPR ((EU) 2016/679) was established on 27 April 2018 and becomes enforceable from 25 May 2018. It is the biggest reform of privacy and the collection, storage, usage and processing of data in recent history.
It applies to the whole territory of the European Union and the data of all people living or working in the EU, referred to as data subjects. It redefines the relationship between the individual and those who process (data processors) or store information (data controllers) about them.
Under the GDPR, Spotcap is considered a data processor, or an entity that determines the purposes and means of the processing of personal data. As a financial services company, we have always taken the protection of personal data seriously, and will continue to do so as a data processor. Spotcap is currently preparing to comply with the provisions set out in the GDPR and will meet the requirements laid out in the GDPR by 25 May 2018.