The EU’s General Data Protection Regulation (GDPR) comes into effect in May 2018. The new regulations are designed to protect people’s data. The regulation offers a single set of rules that are required to be applied throughout all EU states and by any company, no matter where it is based, that processes the data of EU citizens and residents.
In today's world, the way we handle data will determine to a large extent our economic future and personal safety. We need modern rules to respond to new risks, so we call on EU governments, authorities and businesses to use the remaining time efficiently and fulfil their roles in the preparations for the big day."
Vera Jourová, Commissioner for Justice, Consumers and Gender Equality
While the reasons for the new regulations appear clear, Jourová stated in a press conference this week that many EU countries still have work to do. So far Austria and Germany have implemented relevant national laws while others (Denmark, Estonia, France, Hungary, Malta, Ireland, Lithuania, Luxembourg, Latvia, Poland, Sweden, Slovenia, the UK) have submitted or are about to submit draft laws to their respective parliaments. Jourová expressed her concern that:
"If some member states lag behind and do not amend their legislation on time it might cause some problems for the overall functioning of the GDPR across Europe."
Breaking the law could incur fines up to €20 million or 4 percent of a company's worldwide annual turnover.
EU states and companies have been given two years to make sure that regulation goes off without a hitch following its 2016 adoption.
We’ve covered GDPR here.
The EU has provided Q&A information about GDPR here.
Source: https://euobserver.com/justice/140683