After years of negotiations, an agreement was found on the European Commission’s EU Data Protection Reform with the European Parliament and the Council. The General Data Protection Regulation will set out new rules on privacy in the digital age in order to review 1995 rules.
The new Regulation is supposed to give consumers more control over their data, to reduce administrative burden for companies and to enhance the cooperation between the national authorities when it comes to apply a single set of rules in the EU. Companies will face fines up to 4 percent of global sales if they don’t comply with the rules.
The agreement has been approved in the EP by the Civil liberties, Justice and Home affairs (LIBE) Committee by 48 votes to 4. From the new law’s official publication, the Member States will have a two-year timescale for its application.