(LowTax) -- The Isle of Man is on track to implement the EU's new data protection standard, the General Data Protection Regulation, by May 2018.
GDPR strengthens and unifies data protection for all individuals within the EU, including in the areas of data portability, the "right to be forgotten," and children's data. GDPR also introduces new standards for notification of data breaches and tighter response deadlines by data holders where individuals seek to understand how much of their personal information an entity has retained.
Although the Isle of Man is not in the EU, and has "third country" status, the move to implement GDPR is necessary for island businesses wishing to trade with Europe and process EU citizens' data.
Chief Minister, Howard Quayle, said: "It is essential that the public sector, businesses, and charities in the Isle of Man are aware of their responsibilities under the new regulations, which are scheduled to come into force here from May 2018. GDPR will require organizations to achieve and maintain an enhanced level of governance and ongoing monitoring."
The Government intends to invite feedback on proposed new legislation via a public consultation in January 2018. In the meantime, organizations are being encouraged to ensure their information governance is up to date and able to meet the new requirements of GDPR.