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New Protection of Personal Data Law
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settowin
Veteran |
20-Mar-2012 16:55
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This law, Protection of Personal Data or whatever the name, when embedded in the constitution will protect everyone from misuse of our personal data without our consent. I believe banks and credit companies will think twice of circulating names of people whom they " think fit" and " deemed" not credit worthy. An infringement of the law makes it criminal for the offender. So I think most of us will also be protected. Brokers, CDP or anyone with inside information could not be in a position to tell the " syndicates,if any, or unscrupulous people, if any" what shares and outstanding positions you are having thus preventing an attack of your portfolio. If they do, even without your knowledge, it is against the law. The banks could not provide any inquirer about your financial status if you do not consent to it. So I am ok with this law. |
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