GDPR impact on Luxembourg Funds
The General Data Protection Regulation (the “GDPR”) will come into effect on 25 May 2018. The GDPR will be directly effective in each EU member state, with the aim that the same rules will be applied uniformly within the EU. On 12 September 2017, the Luxembourg Parliament issued bill of law n°7184 in order to complement the GDPR and repealing Directive 95/46/EC. Funds will need to assess their current approach to data protection, to undertake a gap analysis between the current approach and the requirements under the GDPR, and to implement any changes and improvements which are required to achieve demonstrable compliance with GDPR requirements. Our GDPR Compliance Task Force has prepared a document outlining the new regulation’s impact on funds domiciled in Luxembourg. Please click below to download the report.