LONDON, November 17, 2017 – The new General Data Protection Regulation (GDPR) will come into force on 25 May 2018, replacing the current European data protection regime under Directive 95/46/EC (the Directive). The new regulation governs the security and management of personal data; specifically, it places obligations and restrictions on companies that hold and collect personal data and impacts what they can do with it.
When enacted, the GDPR will apply in all Member States of the European Union and will toughen and harmonize data protection laws throughout the European Union. United States privacy and technology experts are also watching closely as the new law has extra-territorial reach and poses privacy compliance challenges to companies in the United States that have business and customers in the EU.
- Increases the financial penalties for non-compliance
- Increases the compliance obligations for businesses
- Introduces liability for data processors
- Expands the territorial scope of European Data Protection law
- Increases the rights of individual data subjects
- Makes it easier for individuals to enforce their rights
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