As well as having to plan for a variety of Brexit scenarios, UK finance chiefs and treasury teams are grappling with ongoing regulatory compliance issues. It is important to look at the implications of some of the key regulations and how businesses may benefit from a carefully planned compliance strategy.  While some compliance burdens are directly related to banks, the knock-on effect is that corporates are not able to readily access cash.

GDPR

The EU’s General Data Protection Regulation (GDPR), which came into effect in May, has caused a great deal of disquiet among corporate treasurers, not least because of the potential scale of penalties for non-compliance.

The key principles underlying the regulation are accountability, which means anyone who processes data must demonstrate how they comply with the regulations, and ‘privacy by design’, which means businesses must consider the privacy implications of any new policies, working arrangements or technological updates.

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