More red tape coming: EU Data Protection Changes

Not sure if this is good news or bad news...

A new report from Allen and Overy says that, given the changes in the EU post-elections, "Although the on-going data protection reform continues to be a priority for the new EU
Commission, we do not expect final adoption of the draft regulation to take place before the
second trimester of 2016."

And the scary things that those changes will include

1) extends the territorial scope to data controllers and processors established outside the EU;
2) contains new data breach notification requirements;
3) introduces a 'right to be forgotten'; and
4) enables data protection regulators to impose fines of up to (i) 5% of the annual worldwide
turnover or (ii) EUR 100 million, whichever is the highest.

Wow. See the entire report here (additional registration required).

But keep an eye on this.. we will too!