General Data Protection Regulation Guide
In May 2016 the European Union ("EU") published the EU General Data Protection Regulation ("GDPR"). This major piece of legislation represents the most significant change in EU data protection law since 1995. It will apply in all EU Member States as of 25 May 2018.
The GDPR is a far-reaching legal instrument that will have a significant impact on all companies involved in the processing of personal data, including many outside the EU. It will increase the penalties for concompliance, with fines of up to €20 million or 4 percent of annual worldwide turnover. In addition, supervisory authorities will have a number of broad powers.
Companies should review the GDPR and begin preparing for compliance with the new legal framework for data protection in the EU.
This guide, by providing a brief overview of the new rules imposed by this legislation and the key changes it will make, will help users prepare for the GDPR. The guide also includes a short glossary of terms used in the GDPR, and each section sets out a short to-do list for compliance. The guide will shortly be followed by further guidance, briefings and practical checklists on the GDPR.
We hope that you find this guide a useful tool. Please contact any of the lawyers listed on page 21 of the attached guide if you would like to receive further information.