GoBuySide Analyst Explains New Data Protection Laws

GoBuySide is a global recruiter based out of New York City. The company specializes in assisting private equity firms, hedge fund, investment managers, and Fortune 500 companies in finding the perfect person for the job that they require.

The company praises its unequaled diligent approach, which gives them the advantage over similar recruitment firms. Over 500 clients trust GoBuySide to supply them with the necessary things they need to grow their businesses. GoBuySide credits its team of educationally advanced members as the reason they are able to form deep relationships with its client within every market they serve.

GoBuySide houses candidates for their clients all over the world. They have individuals stationed in such countries as France, the United States, Saudi Arabia, Japan, China and in countries all over South America. They have candidates in 52 cities worldwide, in 16 different countries.

In just 3 months, the General Data Protection Regulations (GDPR), a new law in the European Union relating to identity protection and personal data, comes into effect. Even businesses and corporations that are not located within any state within the European Union will be affect by these new laws. The law puts the responsibility of individual’s identity protection to the individual.

An analyst with GoBuySide gave their opinion on the new regulations in a recent press release.

The analyst says that the GDPR is set to overrule the current rules of personal data protection, known as the EU Data Protection Directive. Companies will be required to implement new technologies and logistics in its efforts to protect its client’s personal information.

The analyst explains that the new rules are a lot different than the current ones. For example, new rules establish that non-EU corporations who have business in the EU will have to adjust their methods when they consider how they want to process personal data.

A lot of completely new systems will have to be put in place as well. Companies that offer their services in the EU will have to integrate notifications systems, processing agreements, transfer and security arrangements. If these systems are not put in place then that company will be in violation of of the rights awarded to the people under the rules laid out in the GDRP.

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