A looming data-privacy regulation holds significant implications for financial-services firms that store data in the cloud.
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"Accountability for data protection cascades down through the data supply chain. Web-based companies will have to clearly define responsibilities and liabilities among solution partners.”
"Companies will need to know the attributes of their data and demonstrate consumer consent as baseline GDPR capabilities. They also need to ensure portability and erasure..."
“Regulators are becoming cloud friendly,” Accenture said in a report highlighting cloud adoption as a key trend for investment banks in 2017."