- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Two months before the EU's General Data Protection Regulation takes effect, the European Data Protection Supervisor has published two new sets of guidelines, providing advice to the EU institutions on how to adapt to this new chapter in EU data protection.
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Data protection experts are emphatic about what a company’s first reaction should be if it believes it is not fully GDPR compliant as 25 May approaches: Don’t panic.
Companies will be in for a shock if they think that European data regulators will go soft on them or allow a grace period as they prepare for tough new rules on data protection that come into force next month.
Legal cases and fines for noncompliance with EU’s GDPR could rise sharply after a court found that a breach was a source of unfair competition. The judgment also opens doors to civil cases over companies that ignoring expensive or challenging rules, such as those regarding AML/CFT.
