GoBuyside Explains The New GDPR Rules Effects

GoBuyside, Inc. is a privately held company headquartered in New York City. It was founded by a Stanford University Graduate School of Business alumnus who is also its chief executive officer. They offer a modern online recruitment platform for companies in the financial industry. This includes hedge funds, private equity firms, Fortune 500 companies, investment managers, and advisory services. It is a global company that can offer its recruitment services for companies in North America, Europe, and Asia. Visit gobuyside.com to know more.

At GoBuyside they can source and screen top-tier job candidates for their clients. The talent network they can draw upon consists of more than 10,000 companies in 500 cities around the world. They have to date helped over 500 clients find the employees they need to rise above their competition.

One big change going on in the financial industry is the new General Data Protection Regulations (GDPR). These new rules give a framework for what rights people have as data subjects. GoBuyside helps their client’s understand the rights of their data subjects so that they are in compliance with GDPR. They also inform them about what data protection procedures they need to engage in so that they remain in full compliance with this new law.

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A data subject is defined as the information that is available for a real person. This includes details such as email addresses, name, IP address, photos, social network pots, bank information, and medical information. All of this data about a person has to now be protected by data controllers and data processors by any company that has this type of information about a person. One of the most important requirements is that if a data breach occurs the data subject has to be notified within a reasonable time period of 72 hours if there is reason to believe they are at risk of having their rights and/or freedoms negatively impacted.

GoBuySide also says that under these new GDPR rules each data subject has the right to know what information a data controller has about them in their system. GoBuyside also says that if a data subject requests it than the data controller has to reveal a number of things such as where their information is stored and for what purpose it is being collected. This new level of transparency is something that GoBuyside is a first in the world and every type of organization has to change how they process information about people. Read more about GoBuyside at inspirery.com.