White Label Clients
26 March 2018
Monthly Notification, Saxo Bank
The new EU General Data Protection Regulation (GDPR) will come into force throughout the EU on 25 May, 2018. GDPR introduces significant and ambitious change...
The new EU General Data Protection Regulation (GDPR) will come into force throughout the EU on 25 May, 2018. GDPR introduces significant and ambitious changes to EU privacy laws by regulating the governance of personal data for European Union citizens with an emphasis on data security and privacy. We at Saxo are committed to approach this challenge as a united group, aiming for full compliance when the new legislation comes into effect.
Retention of white label data
As a main rule Saxo Bank will retain client information relating to white label clients for 5 years after the client relationship has ended.
To manage retention requirements for our white labels, we will deliver a solution whereby you can manage a “right to be forgotten” date for your end-clients within the client management tools.
Reporting on the right to be forgotten date along with the actual scrambled data date will be logged in a new EOD file.
Details on the changes will be provided once the solution has been delivered.
Data processing agreements
Saxo Bank will be acting as a data processing agent for the white label and will be sending out agreements soon.
Article 29 Working Party: http://ec.europa.eu/newsroom/article29/news-overview.cfm
REGULATION (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation): http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2016.119.01.0001.01.ENG&toc=OJ:L:2016:119:TOC