The European Commission's new, stronger, data protection regulation applies in full from 25 May 2018, with hefty penalties for non-compliance.
Over the years the European Commission has taken steps to make Europe fit for the digital age. And data protection rights will be harmonised across the European Union when the General Data Protection Regulation (GDPR) – first adopted by the Parliament in April 2016 - applies in full from 25 May 2018.
What is the GDPR?
The GDPR modernises the Commission's 1995 Data Protection Directive to guarantee privacy rights. Its focus is on reinforcing the rights of individuals, giving them more control over their personal information including easier access, wherever in the world it is sent, processed or stored. The GDPR also ensures stronger enforcement, and sets global standards for data protection.
Impact
Under the GDPR, businesses are required to protect the personal data and privacy of EU citizens. Businesses must also follow GDPR regulations when it comes to sending this data outside of the EU.
Consistency across all 28 EU member states (all nations must transpose the GDPR into law) will make compliance, on the one hand, easier for companies. They will have just one standard to meet and one supervisory authority to answer to. However the bar is set high, and all companies should be re-examining their processes now, to ensure compliance.
Penalties
Not complying with the GDPR can see companies face new major penalties up to whatever is higher - 4% of annual worldwide turnover, or €20m.
So what can see a company in breach of the GDPR? Among others,
not meeting the requirements relating to international transfers
for the basic principles for data processing, such as conditions
for consent. Companies will also need to appoint data protection
officers if they have not done so already, and these processors
will have accountability obligations and binding corporate rules to
abide by.
While initially the responsibility for company adherence with the
GDPR may sit with HR functions, all departments of a business where
personal data is used (such as in sales and marketing activities)
will need to ensure compliance.
Talk to us
TMF Group can provide full data protection health checks for companies that wish to assess their current processes, to determine what changes need to be made to comply with the latest EU data protection rules.
Need more information? Get in touch with us today.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
