Good news for traders: after years of being subject to increasingly sophisticated surveillance, City firms are being forced to rethink how they monitor their staff.

New rules known as the General Data Protection Regulation, which will require European businesses to apply rigorous standards of privacy to the collection and storage of personal data, come into effect in less than a year. City executives are now scrambling to figure out how to comply with GDPR while still gathering data required by other reforms, tracking everything from money laundering to fraudulent traders.