‘Boiling the ocean’: GDPR data demands overwhelm banks

Repapering of existing contracts could stretch beyond May 2018, forcing dealers to rely on regulatory forbearance

For banks and other financial services firms with customers in the European Union, it is an operational challenge of almost unprecedented scope: the General Data Protection Regulation (GDPR) – due to enter into force in May 2018 – will require them to undertake a root and branch review of how they handle, process and govern the use of customer data across their entire organisations, raising a host of operational, legal and technology risks. Many of those in scope admit they will not be ready in