“The agreement reached last night on the new General Data Protection Regulation brings to an end four years of difficult negotiations on the EU’s approach to data protection. As the global economy becomes ever more data driven the significance of these new EU rules cannot be overstated. techUK will be examining the final text to understand its overall coherence and how it will impact the companies large and small that are driving innovation across the EU.
There is no doubt that in the short term innovative data driven businesses of all sizes will face more bureaucracy, more legal uncertainty and more risk. However the big test will be whether Europe’s consumers and citizens really do feel better informed and protected as a result of the new rules and whether Europe’s businesses are able to stay at the forefront of digital innovation. Much will depend on the implementation of the Regulation and the role that Europe’s Data Protection Authorities play in interpreting and applying the new rules. The Commission should actively monitor the impact of the Regulation on digital innovation in Europe so that any issues that do emerge can be quickly addressed. Time will tell whether this Regulation underpins or undermines Europe’s ambitions for digital growth.” – TechUK, December 16th 2015
TechUK’s guide to the GDPR is a great read for companies more heavily involved in data processing than most. The digital economy is about to take a massive hit so being prepared and starting to implement the systems required before the deadline hits is of great importance.