[author: Ben Crew]
In February this year, the Abu Dhabi Global Markets (ADGM) passed the Data Protection Regulation (DPR2021), which bears a striking resemblance to the EU GDPR, and the U.K. GDPR specifically. The former legislation, dating back to 2015, was based on the Organization for Economic Co-Operation and Development (OECD) guidance, which was significantly different from GDPR’s standards. What this means is that for companies operating in the ADGM, major regulatory changes are afoot.
Companies already established in the region will have 12 months to become compliant with the new law, while new companies will have only six months. Considering that EU GDPR provided two years to prepare, and many companies still struggled to operationalise all the requirements on time, six to 12 months will be a difficult deadline to meet. Companies will need to prioritise the changes necessary for compliance with the new law, and follow a clear, actionable plan...
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