From: Privacy and Data Security Insight
Since the first draft comprehensive regulation to govern cybersecurity in the European Union (“EU”) was issued by the European Commission in January 2012 (click here), the European Commission, the European Council, and the European Parliament have been working together to update and supersede the existing EU Directive (95/46/EC) in order to bring it up to date and in line with recent sweeping advances in technology and technological globalization. (EU Privacy Regulations: Who Will Own Your Data Now?, Corporate Counsel, July 8, 2015, Frances McLeod) On June 11, 2015, the European Council issued its own Proposal for a European General Data Protection Regulation (“GPDR”) for review and consideration (click here).
The objective of the European Commission, the European Council, and the European Parliament is to issue a final proposed comprehensive regulation for the EU by the end of 2015, with final approval and adoption thereof to occur by the Spring of 2016. (European Council approves EU General Data Protection Regulation draft; final approval may come by end of 2015, Data Protection Report, June 15, 2015, Marcus Evans; European Union data protection reform: What should businesses be doing now to get ready?, Data Protection Report, Kimberly Gold) When this new comprehensive regulation is adopted by the EU, not only will EU Directive (95/46/EC) be superseded and replaced, but also sweeping changes will be implemented relative to companies with operations in the EU or doing business in the EU.
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