You know the classic Catch-22 pun: “Just because you’re paranoid doesn’t mean they aren’t after you.” Here are a few items I’ve been keeping a watchful eye on lately. As an evidence-based investment advisor, you may want to take a look at them too.
GDPR … It’s Growing on Me
GD-what? It’s not your fault if you’ve not even heard of the European Union’s General Data Protection Regulation (GDPR). Set to go live May 25th, it’s a big deal in Europe, but I might not have heard of it either if I didn’t have a number of colleagues and clients based there. Even then, it only dawned on me a few weeks ago that I may need to comply with portions of it too, as described in this Forbes article.
If you are not collecting, processing or storing any personal information on anyone in the EU, you can probably remain blissfully ignorant about the details. But, I wanted to bring it to your attention anyway because I’m intrigued by its parallels to our would-be fiduciary standards. Think of the GDPR as having a similar mission, but it’s meant to protect people’s personal data instead of their financial well-being.