EU Adviser - Data Protection Regulation
Following a vote on 21 October by the European Union's Committee on Civil Liberties, Justice and Home Affairs (LIBE), far-reaching changes to data protection regulation, which will replace 1995's Data Protection Directive (95/46/EC), are a step closer to being introduced next year.
Designed to respond to the evolving technological environment in which EU citizens live and work, the measures detailed in the proposed regulation include:
Marsh has prepared an Adviser document to explain the impact of the changes and what businesses should consider.
- Fines of up to €100 million or 5% of global turnover, whichever is the greater.
- Stringent authorisation regarding the transfer of data to non-EU countries.
- The "right to be forgotten".
- The appointment of a data protection officer in organisations that process more than 5,000 records in a 12-month period.