Guest user Created: Oct 10, 2018 Last commented: Oct 10, 2018

Legal data transfer

I own financial services business and will shortly retire. My son will set up a separate, new business going forward rather than acquire the existing business. How to I legally transfer the data to his company. Can I inert a business transfer clause into my data protection policy each client signs.

0 0

Assign topic to the user

Select user

Expert

Andrei Hanganu Oct 10, 2018

Answer:

The clients' data, in this case, is one of the assets of the company that will be transferred to the new entity together with the other assets and the transfer is subject to the commercial law. What the new entity needs to do is to inform the customers that via a Privacy Notice about the data it holds about them, this is consistent with the transparency obligation set up in art.13 of the EU GDPR - Information to be provided where personal data has not been obtained from the data subject (https://advisera.com/eugdpracademy/gdpr/information-to-be-provided-where-personal-data-have-not-been-obtained-from-the-data-subject/).

You c an get a full set of documents to ensure compliance with the EU GDPR from our EU GDPR Documentation Toolkit (https://advisera.com/eugdpracademy/eu-gdpr-documentation-toolkit/).

Quote

0 0

Comment as guest or Sign in

HTML tags are not allowed

Name *

Email *

I accept the Privacy and Terms

Notify me when someone replies

Oct 10, 2018

Expert Advice Community