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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Bureau Veritas    BVI   FR0006174348

BUREAU VERITAS (BVI)
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BUREAU VERITAS : CERTIFICATION publishes the world’s first personal data protection standard

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10/02/2017 | 11:30am CEST

Paris-La Défense, France, October 3, 2017 - Bureau Veritas Certification has released a technical standard and certification to support companies in their digital transformation and promote confidence in big data.

The new certification from Bureau Veritas Certification is based on the world's first technical standard focused on the management of personal data protection by companies. This standard was prepared by Bureau Veritas Certification, in collaboration with Lexing, a law firm working on the forefront of personal data protection for nearly 40 years.

The purpose is to offer companies an established, independent and credible certification pertaining to the management of the personal data they collect. Certified companies will be able to demonstrate that they manage the personal data they collect in accordance with regulatory requirements and the expectations of their stakeholders.

The new certification anticipates the General Data Protection Regulation (GDPR), which is due to come into force in May 2018 across all 28 European Union member states. The Regulation applies to companies based anywhere in the world that process or hold the personal data of EU citizens.

Furthermore, 80-90% of citizens have expressed concern regarding the protection of their personal data. Data breaches, global cyberattacks and leaks of classified information have now become regular occurrences. This climate of distrust has tended to intensify with big data, even as the General Data Protection Regulation will require organizations that process data to comply with much higher standards.

'Digital responsibility has emerged as one of the major challenges facing companies in coming years. Our framework integrates standards for managing the protection of personal data, such as obtaining consent, proportionality and retention periods, without fundamentally changing a company's processes or structure', said Sébastien Fox, Vice President Certification Service Line, Bureau Veritas.

Companies need to take the lead and anticipate digital transformation by going beyond mere compliance with regulations. Responsible data management will give certified companies an additional way to protect and differentiate their brands, while restoring the trust of consumers, customers, patients and other stakeholders.

'All these steps will only be reassuring if they are clear, and if the assurances given about the protection of individuals' fundamental rights and freedoms are credible. On this point, only an independent third party can legitimately affirm that ethical rules have been respected. As a global leader in certification, Bureau Veritas Certification is now working with companies in all sectors who want to engage in a rigorous and transparent manner,' said Philippe Jeanmart, Senior Vice President Technical, Quality & Risk, Bureau Veritas.

According to Alain Bensoussan, 'at a time when this Regulation marks a major turning point in the regulation of personal data, we are pleased and proud to have developed a tool to enable GDPR compliance in partnership with Bureau Veritas, a world leader in its sector'. And the lawyer added: 'This framework will allow companies to attest their compliance with the new requirements arising from the Regulation and to enable them, in the face of this upheaval of their digital environment and the changing rules of the data game, to ensure that they have anticipated and implemented the essential measures necessary to be ready by May 2018'.

Target GDPR compliance with Bureau Veritas' voluntary data protection services

Learn more about Bureau Veritas data protection standard

About Bureau Veritas

Bureau Veritas is a world-leading provider in laboratory testing, inspection and certification. Created in 1828, the Group has more than 66,500 employees in around 1,400 offices and laboratories all across the world. Bureau Veritas helps its clients to improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.

Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.

Compartment A, code ISIN FR 0006174348, stock symbol: BVI.

For more information, visit www.bureauveritas.com

About Lexing

Founded by Alain Bensoussan, Lexing Lawyers is a law firm entirely law dedicated to digital and emerging law. With nearly 40-years' expertise in data protection law, it is leading an international network of about thirty tech-savvy law firms on the six continents. Since 2016, it has been offering GDPR compliance tools on its digital platform, Lexing SaaS Avocat. The firm published the first French-language book entirely dedicated to the General Data Protection Regulation (Larcier, Oct. 2016), quickly followed by its English-language version (Wolter Kluwers, Apr. 2017).

For more information, visit

https://www.alain-bensoussan.com/, https://lexing.network/fr

Bureau Veritas Media Contact:

Hélène RIBA - helene.riba@bureauveritas.com

Lexing Media Contact:

Eric BONNET - eric-bonnet@alain-bensoussan.com

Bureau Veritas SA published this content on 03 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 October 2017 09:29:03 UTC.

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Financials (€)
Sales 2018 4 768 M
EBIT 2018 696 M
Net income 2018 346 M
Debt 2018 2 058 M
Yield 2018 2,55%
P/E ratio 2018 28,34
P/E ratio 2019 24,66
EV / Sales 2018 2,53x
EV / Sales 2019 2,38x
Capitalization 10 002 M
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Mean consensus HOLD
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Average target price 22,7 €
Spread / Average Target 0,13%
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Didier Michaud-Daniel Chief Executive Officer
Aldo Cardoso Chairman
François Chabas Group Chief Financial Officer & Executive VP
Stéphane Bacquaert Director
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