Why Fundamental Investors Love ScS Group plc (LON:SCS)

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[caption id=attachment_7097 align=aligncenter width=620] Legalweek 2018. Photo by David Handschuh/NYLJ [/caption] With the General Data Protection Regulation looming, many companies and their in-house counsel are gearing up to adhere to the European Union’s demanding new data privacy protections, which go into effect in May. From 72-hour breach notification windows to the right to be forgotten, there’s no question that a lot has to be done to avoid massive potential fines that come with noncompliance. But for all the work, the GDPR presents an opportunity for companies to really scrutinize the way they are handling data, according to David Blonder, director, legal counsel for regulatory and privacy at BlackBerry Ltd. “I think this is just part of new corporate data governance practices,” Blonder said Thursday on a panel at Legalweek 2018 in New York City. “I share the view expressed that this, while challenging, is a positive opportunity to really look at your organization’s data practices and see whether opportunities exist to discard data that is no longer relevant, that could cause your organization potential liability if it were leaked.” “You know, sometimes you have to clean up the attic,” he added. For BlackBerry, preparation for the May 25 implementation date has meant data mapping to identify where data is stored and pinpoint who knows where it is, especially when it comes to the company’s legacy databases, said Blonder. “When you get into the data mapping, you have to identify all the legacy systems that existed, what was contained in them,” explained Blonder, who manages a cross-functional team working on BlackBerry’s GDPR compliance efforts. “We reached out to systems owners [and] completed privacy impact assessments for well over a hundred systems and identified gaps.” Aside from data mapping, Blonder said it’s been a challenge to get people to take time away from their normal responsibilities to think about GDPR compliance. You have to be persistent to ensure that employees understand the importance of compliance and what their role in this is, he said, because the reality is that data breaches largely come from within a company. Lastly, according to Blonder, the Canada-based company has also updated its privacy policy to give specific notices on, for instance, how personal data is used and to what extent it’s shared with affiliates or third parties. View comments
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