European Union: Big Fines for Breaching Privacy Rules

Posted by Joachim Bartels | Dec 5, 2011 | Data Protection - Privacy, Data Security / Data Theft, European Union, Regulatory News | 0 |

New rules in data protection: Businesses breaching European Union Privacy Rules will face fines of up to 5% of their global revenues based on new proposals to be unveiled soon. The rules will also apply to subsidiaries of foreign corporations. Companies with more than 250 employees would have to have a dedicated staff to deal with privacy issues.

The new rules will have to be approved by national governments who appear to be reluctant to give up oversight to the European Union. The process is expected to take up to two years for the new rules to be implemented.

Source: Financial Times

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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