An Insolvency Support Services (ISS) survey of 70 insolvency practitioners’ websites has revealed that only 25% contain any information about the rights of the various parties an insolvency practitioner will routinely process data about during the course of an insolvency engagement: debtors, directors, creditors, employees and other stakeholders.
Alison Curry, a director of ISS, commented: “These findings might not mean that practitioners are falling down in their GDPR obligations. They may be supplying the necessary information within privacy notices that are distributed by email or in hard copy during the course of insolvency proceedings. However, even if that is the case, these firms are missing an opportunity to make this information readily available at nominal additional cost and inconvenience, by placing it on their website. Of more concern would be if practitioners are failing to provide the relevant data subjects with an appropriate privacy notice, explaining their rights, the insolvency practitioner’s lawful basis for processing and the retention and destruction policies adopted by the practice.”
Do you have all the GDPR documentation that your firm needs in order to comply fully with the new legislation, both online and offline? ISS can assist you with insolvency-specific, layered, GDPR documents; including a full suite of policies, procedures and notices, which can be easily customised for use in your firm.
Was your firm surveyed? If you would like to know if yours was one of the firms surveyed, please get in touch for a no-obligation chat about our findings.
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