I am sure you have heard the newest new buzzword, GDPR. Yet another regulation being put in place!
It’s not too new though, being adopted back in 2016, but really becoming enforceable in May this year.
In short, if you have a business in the EU or do business with a company in the EU and you store data on individuals, then that data must have been obtained in accordance with the law* and those individuals have the right to ask you to change their data or remove their data from your systems completely**.
Brady have designed and developed an application that will be usable by the newest versions of all Brady Products and will give our customers the ability to obfuscate (hide) personal information held within that solutions records.
The application should only be used when you have received a request from an individual, who believes they have personal has been stored, for the ‘right to erasure’ or ‘right to data portability’ regarding their data and you agree to undertake their request. Under the GDPR legislation companies have the right to refuse a ‘right to erasure’ request if they believe they have a legitimate business interest to maintain their personal data.
The right to erasure is not absolute and only applies in certain circumstances. Companies need to be aware of the impact of the obfuscation on other legal data retention regulations e.g. MIFIID, audit and tax records retention.
Brady’s GDPR application gives you the ability to:
- Search for the individual by first name, last name, or username to determine if any records containing this information exists
- Display a list of names who meet the criteria entered
- Produce a report containing these records in a commonly used and machine readable format for download and storage by the user
- Accept liability for the impact of the obfuscation on other data retention obligations
- Obfuscate these records.
Access to the GDPR Utility will be username/password controlled. Within your organisation only a very limit number of users should be given access.
This application is not a tool to clean up personal data; it should only be used as stated above when you agree to an individual’s request under GDPR. Under GDPR, it is not necessary to remove all customer data, when you have a legitimate business reason for holding this data.
The application will be available at no additional cost to our customers and will be compatible with the following software versions:
|Brady Contract Clearer||2016.3|
|Brady Regulatory Trade Reporting||2016.2|
If you are already looking to upgrade your Brady solution or are considering it then please reach out to your account manager to find out how we can facilitate the process.
To learn how we can help you with GDPR contact us here