Risks and Planning Considerations
The General Data Protection Regulation (GDPR) is a comprehensive rewrite of Europe’s privacy regulations ratified by the Parliament of the European Union in 2016. The goals of the regulation are seemingly simple: to harmonize and articulate the privacy rights of EU residents and to facilitate a competitive marketplace. However, the new rules will have a dramatic impact on the way businesses inside and outside the EU collect, process, and protect personal data. With the GDPR coming into effect on May 25, 2018, organizations are faced with significant changes in the way they process EU personal data necessary to comply with the regulation.
Complying with a new and complex regulation such as the GDPR requires a range of skills, and it is important for any organization undertaking a compliance project of this type to engage both technical and legal resources to ensure the greatest chance of success.
This paper examines the impacts of the regulation and what directors and executive leadership should consider as the deadline approaches.
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