The National Franchised Dealers Association (NFDA) is warning that companies will face severe fines if they fail to have a compliance strategy in place for the new General Data Protection Regulation (GDPR) by a deadline set for 25 May 2018. Failure to comply can result in fines of up to 4% of annual turnover for the most serious contraventions.
NFDA director Sue Robinson explains: “Preparing for compliance will take significant time and resources and putting in place a GDPR implementation programme is a critical priority to ensure that businesses can continue to use and share data in compliance with applicable laws.
“To assist NFDA members in meeting the challenge of compliance we are running a workshop to outline the necessary steps required. We have also drawn up a questionnaire and a letter which dealers can send to suppliers, manufacturers, dealership management system providers, insurers and finance houses to understand how they are using their data.
“We urge dealers to take the whole GDPR issue very seriously and contact us to attend the workshop or if they need any further guidance on the issue.”
For information about the NFDA GDPR workshop, contact [email protected]