Scope Of EU Privacy Law Has Companies Scrambling

April 20, 2016Article

Law360, New York (April 20, 2016, 4:19 PM EDT) -- European policymakers recently cleared the way for sweeping data protection measures to take effect in 2018, a move that should inspire companies to immediately take stock of the data they hold and the privacy practices they employ in order to boost their chances of avoiding significantly enhanced regulatory penalties.

After more than four years of negotiations, the European Parliament last week became the final political body to give its backing to the proposed general data protection regulation, or GDPR, which will replace the current patchwork data protection framework with a uniform regime that tightens restrictions on the use and flow of data while empowering national privacy regulators to levy fines of up to either 4 percent of a company's annual global revenue or €20 million ($22.2 million).

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