GDPR to hit alternative assets the most

Author: Olly Jackson | Published: 5 Jun 2018

The General Data Protection Regulation (GDPR) is expected to impact alternative assets significantly. Without changing the way they operate, it will be impossible for companies operating in this sector to retain, organise and recall information on each end investor, keep track of how many times each investor has been contacted, and why and how information has been shared.  

From now on, businesses in this segment of financial services can no longer rely on existing practices, or they risk fines of up to four percent of their global turnover.

Currently, alternative assets companies generally record fund filings, investments and their annual statements exclusively on paper, partly down to the fact alternative assets are a small part of the wider financial services industry. According to Pwc, these types of assets are expected to be worth up to $15 trillion by 2020. This compares to a total value of $145 trillion for all financial assets globally....