The EU’s General Data Protection Regulation, GDPR, entered into force on 25 May with the goal of unifying data protection legislation across Europe. It also requires that transparency and the power of the individual be increased in data processing. In Finland, the GDPR doesn’t radically change the basic pillars of data protection legislation, but rather is in line with the Finnish regulations that have been applied for the past 30 years.
Public debate about the new regulation has focused on a few individual questions, and administrative sanctions have taken on an oversized role in the debate. I personally wish that, instead of fixating on fines, the upper management of organisations would stop to think about how to secure data-based business operations in the event the authorities prohibit the use of data or order the deletion of data. Another important thing to ponder would be what the careless processing of data could mean to the reputation of a company. This latter issue is a subject that has gotten a great deal of media attention recently. There is more at play than the bogeyman of huge fines.
My hope is that the GDPR gets professionals from different fields to work together better and that this becomes on new export for the EU. We’ll know if my hopes come true in 2020 when the Commission is set to examine the practical impacts of the new regulations.
It is important for us lawyers to understand the logic underlying data systems as well as business needs and strategy if we are to come up with sustainable solutions for our clients. IT experts in turn need to understand the main principles of the law so that they can make sure that data systems and services comply with regulations.
Corporate management for its part needs to understand the opportunities offered by technology and the requirements of the law in order to make their businesses more innovative and profitable. Let’s make the most of this change!
A wise person once said, ‘Dear past, thank you for the lessons; dear future, we are ready’. We are ready at Castrén & Snellman—I hope you are, too!
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Latest references
Finnish Construction Management Consultancy — District Court Dismisses charge in occupational safety offence case concerning a safety coordinator
We successfully represented a Finnish construction management consultancy and a safety coordinator employed by the company in criminal proceedings concerning an alleged occupational safety and health offence. The prosecutor sought a penalty for an alleged breach of occupational safety regulations. The charge arose from a fall accident at a construction site where our client acted as the safety coordinator appointed by the developer. We assessed the scope of the safety coordinator’s duties in relation to the responsibilities of the main contractor, as well as how our client had fulfilled their obligations in practice. We demonstrated that our client had acted with due care and in full compliance with their duties throughout the planning, preparation and execution of the construction project. The District Court of Eastern Uusimaa dismissed the charge against our client. The Court held that our client, in their capacity as safety coordinator, had duly fulfilled the occupational safety obligations incumbent on the developer during the planning and preparation phases of the construction project and had not been aware of the fall protection deficiency identified at the site. The judgment is final insofar as our client is concerned.
Case published 22.6.2026
Efima – Sale of financial management services business
We advised Efima Oyj on the sale of its financial management services business to Rantalainen as part of its strategic focus on fully concentrating on the delivery of business applications as well as data and AI solutions. As a result of the transaction, customer contracts related to financial management services and 65 experts working in these services will transfer to Rantalainen. The transaction will be carried out as a transfer of business, and the experts will move to the new owner as existing employees. Efima is a Finnish digital company that supports the sustainable growth of large and mid-sized companies by streamlining their business processes and by creating competitive advantage through the innovative use of artificial intelligence and data. The company has nearly 200 experts based in Helsinki and Tampere.
Case published 12.6.2026
Ugly Duckling Ventures – EUR 6.5 million funding round of Skyfora
We advised lead investor Ugly Duckling Ventures on the EUR 6.5 million funding round of Skyfora. The round also included Eviny Ventures, LUMO Labs and EIC Fund, alongside non-dilutive funding from Business Finland. The investment will support the commercial scale-up of Skyfora’s weather intelligence solutions, the expansion of partnerships with telecom operators, forecasting providers and meteorological institutions, and the continued growth of the team. Skyfora is a Finnish company developing high-resolution weather data solutions using patented technology that extracts atmospheric data from GNSS receivers embedded in existing infrastructure, such as telecom networks. By unlocking previously untapped data sources, Skyfora enables the next generation of AI-driven weather forecasting and supports improved decision-making across weather-sensitive industries. Ugly Duckling Ventures is a Copenhagen-based venture capital firm focused on early-stage Nordic B2B technology companies, with an emphasis on medtech, resilience tech and business services.
Case published 10.6.2026
General Atlantic – ICEYE’s EUR 1 Billion Series F Funding Round
We advised General Atlantic as the lead investor on ICEYE’s EUR 1 billion series F funding round, valuing the company at over EUR 10 billion. ICEYE raised EUR 450 million (USD 520 million) in a primary Series F funding round led by General Atlantic. Additional investors included Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority (QIA) and TCV. Together with a secondary placement, the total fundraising exceeds EUR 1 billion. ICEYE is the world leader in sovereign intelligence from space, providing continuous monitoring capabilities to detect and respond to changes in any location on Earth. The company operates the world’s largest and most advanced Synthetic Aperture Radar satellite constellation. General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 885 companies throughout its history. As of March 31, 2026, General Atlantic manages approximately USD 126 billion in assets across its investment strategies. We advised General Atlantic on this transaction in collaboration with the international law firm Paul, Weiss, Rifkind, Wharton & Garrison.
Case published 9.6.2026