Counting Down to GDPR- Moore Stephens KSC and BRCC together arranged seminar in Timisoara

On 8th December, 2017, British Romanian Chamber of Commerce (BRCC) and Moore Stephens KSC arranged a seminar on the General Data Protection Regulation (GDPR).

In less than six months, Europe's data protection rules will undergo their biggest changes in two decades. The main objective of the GDPR is to strengthen and harmonize data protection of individuals throughout the European Union. EU residents will receive enhanced privacy rights, and those holding their information will have to obey strict rules around transparency and accountability.

The General Data Protection Regulation (GDPR) was adopted on 27 April 2016 and will apply from 28th May 2018. Once the GDPR takes effect, it will replace the Data Protection Directive from 1995.

GDPR introduces new obligations for any organisation that handles data about EU citizens - whether that organisation is located in the EU or not. It introduces data breach notification into European law for the first time. And it places stricter responsibilities on organisations to prove they are adequately managing and protecting personal data.  The possible fines for non-compliance can start from 2-4% of the global turnover up to EUR 20 million, depending on which of them is higher.

Amongst the keynote speakers of the event were Mr. Mamas Koutsoyiannis – CEO, Moore Stephens KSC & Member of the BRCC Board; Emil Mateescu, Deputy GM of the Chamber of Commerce and Industry, Timisoara; Ms. Valentina Ion – IT Audit &IT Advisory Partner, Moore Stephens KSC & Managing Partner BIT Advisory; Mr. Vlad Tomosoiu – Managing Partner, Moore Stephens Tomosoiu; Aris Vrakas, Project Manager, Relational SA.

Mr. Mamas Koutsoyiannis was moderating the event. While addressing the event, Mr. Mamas Koutsoyiannis said, “There are some truly revolutionary aspects of the GDPR-both from the perspective of the data user and the data provider or processor.” “The GPDR will apply to the processing of personal data by controllers and processors in the EU, regardless of whether the processing takes place in the EU or not.”

The organizers also justified their wish to help companies to understand these regulations that will enter into force in a few months and how they need to plan to adopt this methodical and structured approach as becoming GDPR-compliant requires taking a methodical and structured approach.