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
United Bankers – Sale of three care properties
We advised United Bankers on the sale of three care properties to Kinland AS. The buildings were completed between 2021 and 2022 and meet high technical and environmental standards. All three properties are fully leased. The portfolio has a weighted average unexpired lease term of 13 years.
Case published 1.6.2026
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We are advising Hiab Corporation in the financing for its USD 1,035 million acquisition of Labrie Environmental Group, a leading North American refuse collection vehicle (“RCV”) manufacturer, from Wynnchurch Capital, L.P. Hiab Corporation (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on-road load handling solutions, with 2025 sales of approximately EUR 1.6 billion and approximately 4,000 employees, operating through a global network spanning over 100 countries. Labrie Group is a leading North American provider of RCVs, employing approximately 1,200 people.
Case published 1.6.2026
Lenders to ICEYE – EUR 300 million revolving credit facility for ICEYE
We advised an international bank syndicate in a EUR 300 million revolving credit facility (RCF) for ICEYE, the world leader in sovereign intelligence from space. The bank-syndicate comprised Nordic and global banks, with Citi and Danske Bank acting as Joint Global Coordinators and Mandated Lead Arrangers. The RCF will support the issuance of guarantees for customer contracts, enable continued business growth, and serve as a liquidity backstop.
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Terrieri Kiinteistöt, A. Ahlström Kiinteistöt and S-Bank Building Plot non-UCITS Fund – Sale of a production and logistics property
We are advising Terrieri Kiinteistöt Ky and A. Ahlström Kiinteistöt Oy in the sale of a modern production and logistics building complex to Swedish property investment company Catena AB. We are also assisting S-Bank Building Plot non-UCITS Fund which in connection with the transaction, has agreed to sell the land area where the building complex is located to Catena AB. The building complex located in the immediate vicinity of Helsinki-Vantaa Airport was completed in 2021 and comprises approximately 23,260 square metres of leasable area, fully leased to Cramo Finland Oy. The approximately 140,000-square-metre plot offers additional long-term development potential in the form of approximately 45,000 square metres of additional building rights.
Case published 21.5.2026