If you have an establishment in the European Union (EU), offer goods and services in the EU, or monitor the behaviour of individuals in the EU, then the answer is probably yes, and you should certainly read on.
The new EU General Data Protection Regulation (GDPR) comes into effect on 25 May 2018, and for many businesses all around the world, is driving a focus on understanding and updating their data handling practices to ensure they are ready to comply. This is because not only can the GDPR apply to businesses outside of the EU, but there are also significant penalties for non-compliance (up to €20 million or 4% of global annual turnover for the preceding financial year in certain circumstances).
So, with a little over 10 months to go before the new regime applies, we recommend that Australian businesses think about whether they are caught, and if so, start planning for the legal and operational changes that are required to comply with GDPR.
McCullough Robertson’s commercial law blog provides regular updates and discussion on commercial and contractual issues, including intellectual property and competition, affecting Australian business.
Showing posts with label European Union. Show all posts
Showing posts with label European Union. Show all posts
Subscribe to:
Posts (Atom)