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Companies from various industries have to follow all of the rules and regulations that are relevant to their field. The GDPR will apply to the vast majority of industries as most companies handle customer data in some form. The Financial Conduct Authority (FCA) rules require financial services firms to process personal data and have stated that there are a number of requirements that are common to the FCA handbook and the GDPR.
As stated by the FCA:
The FCA and ICO are working closely together in preparation for the GDPR, and recently jointly hosted a GDPR Roundtable with firms and industry bodies to listen to industry concerns. One example of how we are working together is innovation, where the ICO is providing tailored input to the FCA’s Innovation Hub.
It is useful to see that supervisory authorities are working together to acknowledge and respond to the new EU Regulation.