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New rules which aim to create a high, uniform level of data protection across the European Union fit for the digital era were given final approval by members of the European Parliament on Thursday 14th April. The European Parliament’s vote ends more than four years of work on a complete overhaul of EU data protection rules.
The reform will replace the current data protection directive, dating back to 1995 when the internet was still in its infancy, with a new General Data Protection Regulation (GDPR) designed to give individuals more control over their own private information in a digitised world of smartphones, social media, internet banking and global transfers.
The GDPR will enter into force 20 days after its publication in the EU Official Journal. Its provisions will be directly applicable in all member states two years after this date.
The Information Commissioner’s Office, which will be responsible for ensuring that the UK is ready for the reforms by 2018, has published a document designed to help firms prepare for the new rules. Members may access the document by clicking here.
The GDPR includes provisions on:
- a right to be forgotten;
- ‘clear and affirmative consent’ to the processing of private data by the person concerned;
- a right to transfer your data to another service provider;
- the right to know when your data has been hacked;
- ensuring that privacy policies are explained in clear and understandable language; and
- stronger enforcement and fines up to 4% of firms’ total worldwide annual turnover, as a deterrent to breaking the rules.
The data protection package also includes a directive on data transfers for policing and judicial purposes. It will apply to data transfers across borders within the EU as well as, for the first time, setting minimum standards for data processing for policing purposes within each member state.
BIBA members’ compliance and regulation queries should be directed to: compliance@biba.org.uk
The post New EU data protection rules get green light from European Parliament appeared first on British Insurance Brokers' Association.
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