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We wish you a Merry Christmas and a Happy New Year

We would like to thank you for working with Advisory Excellence throughout 2018 and hope you and your colleagues have a wonderful festive break.

Our offices will be closed from 1pm on Friday 21st December and will re-open on Monday 7th January 2019.

Should you need any urgent help over this period, our helpdesk (+44 (0) 20 3137 6198) will be open as usual.

We look forward to working with you in 2019!

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Businesses struggling with GDPR compliance

According to a recent survey conducted by Deloitte, only 30% of organisations are have been responding to customer requests regarding their personal data within the GDPR timeframe.

What is GDPR?

The General Data Protection Regulation (GDPR) came into effect in May of this year. A measure put in place to modernise previous data protection directives from the 1990s, GDPR aims to keep pace with rapid technological changes when it comes to protecting customer information. Furthermore, GDPR was implemented to set in a place a more consistent set of guidelines across Europe.

Although GDPR regulations have been more effectively applied to technological advancements, it took more than four years of negotiation and discussion before GDPR guidelines were decided upon. This highlights how, even though steps have been taken, uptake is still too slow when compared to the innovation of the technology sector, and the potential misuse and monopolisation of data.

Each European country had the option to alter the laws slightly according to their own jurisdictions. In the UK, the Data Protection Act 2018 was initially greeted with some controversy since guidelines were amended in this country to protect cyber-security researchers.

These guidelines protect the consumer by allowing them easier access to what data a company has access to, as well as introducing steeper fines to organisations who go against regulations. This is overseen and implemented by the Information Commissioner’s Office (ICO). Companies must inform the ICO no later than 72 hours after any form of breach occurs where data they have stored has been accessed.

Businesses were allowed from May 2016 to May 2018 to prepare for and implement new GDPR measures, and so the question remains: why are businesses not fully adhering to the GDPR timeframe?

Is it the Brexit effect?

Post-Brexit changes should not have an overwhelming effect on GDPR guidelines, this is largely due to the contingencies each individual European country has been allowed to make so the laws most effectively work.

The two prior years businesses have had to fully prepare for GDPR have meant that businesses had the time to source other effective ways in which to gather the relevant information they need to conduct business, without breaching a customer’s right to privacy.

An example of a data breach story that made the headlines would be Facebook’s admission that 50 million ‘access tokens’ for accounts had been taken by unknown hackers. This is the kind of eventuality that GDPR regulations hopes to reduce through the introduction of stricter measures and hefty fines.

Survey conducted by Deloitte

“Six months in, what is clear is that some organisations are still grappling with the implementation of their GDPR compliance,” said Peter Gooch, cyber risk partner at Deloitte.

Deloitte has stated that in the six months GDPR has been in effect, more than two-thirds of organisations who took part in their global survey (consisting of answers supplied by 1,100 organisations) have been responding to customer data requests late.

Gooch continued: “Given the complexities of such programmes and increased consumer awareness of such requests, we would expect some bedding-in time. However, our research found that a fifth of organisations only aimed for bare minimum compliance back in May, which may be indicative of the delays some customers are currently experiencing.”

The GDPR timeframe for handling data requests submitted by the consumer (for example, the option to opt out of direct marketing or to erase their details from company systems) is one month. Although statistics for the fulfilment of this are low, it is an improvement on previous measures.

“That said, 33% of organisations surveyed continue to invest in their privacy practices, including in technology and talent,” said Gooch. “Since May, 70% of organisations surveyed have seen an increase in staff who are either partly or fully focused on GDPR compliance. For many, this included the recruitment of a dedicated Data Protection Officer (DPO). Of the countries surveyed, the UK leads in this respect, with 92% of respondents assigning a DPO.”

With DPO’s now being assigned role-specific responsibilities to handle GDPR guidelines, the number of businesses who are handling data requests in a timely manner should increase.

Gooch concluded: “Overall, organisations are taking the right steps in continuing their GDPR implementation and the majority (92%) felt confident in demonstrating their ability to conform in the long-term. In the immediate term, though, many will need to address today’s pressure to respond to data requests. This is particularly the case as online tools, enabling consumers to make mass data requests, increase in popularity.

“Those that are currently responding with some delay will need to take a more customer-centric approach, not only to meet the existing volume, but also the influx of requests their tools could create.”

If you would like to view our Privacy Policy, please click on the following link: https://www.advisoryexcellence.com/privacy-policy/

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Insights and reports for technology driven visionary leaders

At Management Events, our passion is to create valuable encounters and impactful experiences in a professional setting. At our events, we connect the top decision makers and solution providers, and inspire with great speakers.

Our exclusive, invitation-only event concept offers our clients the opportunity to have pre-booked meetings with the most potential customers and network with the forerunners in their field. The event participants are technology-driven leaders of the largest companies in Europe and Southeast Asia.

Annually, we produce more than 150 business events bringing together 20,000 leaders and 2,000 solution providers in 15 countries generating business opportunities through 50,000 face-to-face meetings. Currently, we operate in Austria, Denmark, Germany, Finland, the Netherlands, Norway, Sweden, Switzerland, Malaysia, UAE, Turkey and Singapore.

For more information about Management Events, please visit: https://managementevents.com/

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Berry Appleman & Leiden LLP recognised by Best Lawyers®

Berry Appleman & Leiden (BAL) LLP, one of the world’s largest immigration law firms, has been named “Immigration Law Firm of the Year” by US News – Best Lawyers®. Only one law firm per legal practice area receives this recognition, making the award a significant achievement. BAL has also received a First Tier ranking in Houston, San Francisco and Washington, DC by Best Lawyers®.

The award caps a tremendous milestone year for the firm:

  • Opening of a 60-person office in mid-town Manhattan.
  • Establishing an unprecedented strategic alliance with Deloitte UK that combines the best of Deloitte’s scale, expertise and breadth outside of the US with BAL’s unparalleled legal expertise and high quality immigration services in the US.
  • Launching a large-scale Center of Excellence in Richardson, Texas to support over 600 cross-functional professionals including attorneys, legal and operational staff, as well as expansions of offices in Boston, Houston, McLean, Va. and Walnut Creek, Ca.
  • Unveiling of the industry’s first mobile immigration app, enabling anytime, anywhere case management across Android and iOS devices. The app is a component of Cobalt® the firm’s innovative digital immigration platform.

Commenting on the award, Managing Partner Jeremy Fudge stated, “This has been another extraordinary year for BAL. We have been quietly leading the industry for several years now and are honoured to receive the US News – Best Lawyers® ”Law Firm of the Year’ in immigration.”

About Best Lawyers®

Best Lawyers® “Law Firm of the Year” awards are country and practice area specific. They are determined based on a handful of factors, including: feedback from lawyers recognized by Best Lawyers® on individual lawyer and firm-wide work, the size and coverage of the firm in a specific practice area, historical analysis of the firm’s “Lawyer of the Year” awards in this area, and research surrounding the firm’s overall scope and areas of expertise.

About Berry Appleman & Leiden LLP

BAL is singularly focused on meeting the immigration challenges of corporate clients around the world in ways that make immigration more strategic and enable clients to be more successful. Established in 1980, the firm provides immigration expertise, top-notch information security and leading technology innovation like its Cobalt® digital immigration services platform. In 2018, the firm formed a strategic alliance with Deloitte UK to create the world’s first global immigration service delivery model. BAL and its leaders are highly ranked in every major legal publication, including Best Lawyers, Chambers, The Legal 500, and Who’s Who Legal. For more information about Berry Appleman & Leiden LLP, please visit: http://www.balglobal.com/

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EU business leader ‘optimistic’ Britain will strike Brexit deal

Christoph Leitl, President of Eurochambres (European Chambers of Commerce and Industry), wants the UK to remain tied to the Customs Union once it leaves the single bloc.

Mr Leitl warned that EU countries would need to recruit thousands of extra customs officers to beef up border security if Britain leaves the union.

He said: “If there is no customs union, that will mean that we will need 10,000 extra customs officials in Europe.

“Huge waiting times, huge traffic measures to handle the traffic jams, so to speak. Those who initiated it really did not think things through and act irresponsible in my view.

He added: “I say, stay inside the Customs Union, in the single market.”

The EU and Britain’s current Brexit position was “completely confusing”, Mr Leitl believed, but he was “optimistic that they can find an agreement”.

And with negotiations between Theresa May and the EU negotiating teams reaching deadlock, Mr Leitl admitted the current economic outlook was “insecure”.

But he warned Theresa May that failing to strike a trade deal with the EU would harm British business more than the 27 other EU states’ economies.

“If there is no customs union, we will need 10,000 extra customs officials. I say, stay inside the Customs Union, in the single market.” ~ Christoph Leitl

Mr Leitl said: “Fifty percent of all UK exports go to the markets of the European Union, but only five percent from the markets of the European Union to Great Britain.

“It must be in the vital interest of Great Britain to get out of politics, but to stay in business economically.”

The Austrian president of Eurochambres called for a “transitional regime for he issue of migration that concerns you so much.”

He added: “As always in such negotiations, it’s a poker game till the end, as solutions are being sought.

“Then, at some point the clock is stopped, and a solution is announced.”

Last week’s Brussels summit failed to break the deadlock with Mrs May accused of offering “nothing new”.

EU leaders and the British negotiating team remain divided over as solution to the Northern Ireland backstop to ensure a free-flowing border.

Theresa May has vowed not to accept a deal that keeps Northern Ireland tied to EU customs rules while the rest of the UK leaves.

At last week’s talks, she admitted she could seek an extension of a few months to a December 2020 transition date.

A showdown summit planned for November may now be pushed back to December.

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Who’s switching jobs? People moves for October 12th

The latest news for People on the Move, including insights and opinions from employment experts around the globe.

Octopus Property

Specialist property lender Octopus Property, part of the Octopus Group, announced the appointment of Paula Purdy as business development manager (BDM), north of England, reporting directly to D’mitri Zaprzala, Head of Sales. Paula’s appointment follows on from the three regional BDM hires announced last month, with representatives now established across the UK. Paula brings over 17 years of residential, commercial, buy-to-let and bridging lending experience. She joins Octopus Property from Shawbrook Bank, where she was head of sales, residential mortgages, increasing business and raising Shawbrook’s profile amongst intermediaries. Paula will be responsible for deepening relationships with introducers, alongside building new ones, in and around major North of England cities including Chester, Liverpool, Crewe and Warrington, leveraging Octopus Property’s residential, commercial and development product range.

White & Case LLP

Global law firm White & Case has expanded its global project finance practice with the addition of Simon Caridia as a new partner in London. Simon focuses his practice on debt financings for infrastructure M&A and private equity transactions. He advises industry sponsors, infrastructure and private equity funds, commercial bank lenders, multilateral agencies, institutional investors and host governments on brownfield transactions and greenfield projects, including acquisitions, refinancing’s, restructurings, project finance and public-private partnerships. He joins White & Case from Herbert Smith Freehills, where he was a partner. “There are very few lawyers in the London market who can match Simon’s reputation, experience and market knowledge in relation to advising clients on debt financing for infrastructure M&A and private equity deals,” said White & Case partner Mark Castillo-Bernaus.

Houlihan Lokey

Houlihan Lokey, the global investment bank, yesterday announced that David Brock had joined the firm as a managing director in its industrials group, focused on the building products sector. He is based in London. David joins from Jefferies, where he was a managing director and head of the construction and building materials group. Prior to Jefferies, he was also a managing director and head of the construction and building materials group at Deutsche Bank. David’s previous experience also includes equity research roles in the building products sector at Credit Suisse and HSBC. “I am excited for the opportunity to be part of this momentum and to be joining the market-leading Industrials team,” David said.