EU Countries Turn to Local GDPR Laws to Tackle Unfair Competition Compliance

London, UK — (SBWIRE) — 01/31/2022 — When the EU-wide GDPR was first introduced it was intended to tackle the way that big tech firms were mishandling data. However, although there have been some pretty hefty penalties levied against the likes of Google and Amazon, a few years on from the implementation of the GDPR it has yet to really demonstrate its intended impact. There are two key reasons why the GDPR hasn’t had the impact it was hoped it would achieve – a failure to enforce the provisions and the fact that it doesn’t take into account anything other than data privacy (for example, it ignores unfair competition). Given the slow pace of enforcement of the GDPR we have also begun to see EU countries using local GDPR laws to tackle issues in the local jurisdiction – and also for the areas that the GDPR itself doesn’t tackle, in particular unfair competition compliance.

The way in which the GDPR impacts businesses, in the EU and beyond, – and the resourcing challenges it creates – is of vital importance to a compliance recruitment firm like Selby Jennings. Not only is the team here always at the cutting edge of the latest market developments for their own knowledge but also to keep clients informed. Established in 2004, Selby Jennings has been a leading specialist recruiter to the banking and financial services sector for almost two decades and has seen many changes in that time. Key to the way that the firm is able to support both clients and candidates is the extensive knowledge and experience within the team – that includes, not just compliance news and issues, but also fields such as sales and trading, financial technology, risk management, private wealth management and corporate and investment banking. The team uses a combination of permanent, contract and multi-hire solutions to create options for all hiring needs.

Being a compliance recruitment firm with a UK presence ensures that Selby Jennings is able to cover all major hubs nationwide, including London, Birmingham and Manchester. The firm is also able to deliver internationally too, as the British team is integrated into a worldwide workforce of 1,000+. In addition, the firm is also the recruitment partner of choice to hundreds of world-leading companies as part of the Phaidon International group, which operates across 6 countries. As the demands of compliance continue to evolve with regulation such as the GDPR it’s vital for organisations to be able to keep up. The team at Selby Jennings provides a seamless service so that enterprises can hire for resilience and growth. Consultants are trained on an ongoing basis and work with best-in-class recruitment technology and strategies. There are a range of different roles available via Selby Jennings today, including Business Development Associate [Credit], Senior Front Office and Treasury Markets Officer and Analyst [Leveraged Finance].

The team at Selby Jennings said, “Little did we know that the pandemic would spark a new chapter for financial services. From ever-evolving regulations, mercurial consumer expectations, digital transformation, to the heightened competition from incumbents and new entrants, financial services verticals evolved at lightning speed โ€“ all while in a stage of poised recovery with the need to future-proof operations from additional disruption.

Alongside challenges brought on by the pandemic, financial services in 2021 were gripped by the wider political and socio-economic context that was Brexit, as banks and financial institutions packed their bags to move some, or all, of their operations to cities across Europe. However, Financial Services were one of the few bright spots of the past year, providing fuel to the economy and scaling up in a time where many sectors wouldn’t take the risk. 2022 is already shaping up to be a record-breaking year in terms of talent movement, and we can’t wait to help clients secure that world-class talent.”

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Selby Jennings knows that building the right team isn’t easy. However, with the support of the right hiring partner, access to key networks and contacts, it’s possible to reimagine the process of recruitment to make it more positive, satisfying and productive.

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