Member News & Information

Tips to prepare for compliance with the EU’s General Data Protection Regulation

The attached Quick Guide is about the EU’s General Data Protection Regulation (GDPR). You may have heard that the EU’s General Data Protection Regulation (GDPR) entered into force on 25 May 2016 and will bring about a number of novelties in the field of data protection. Enforcement of the GDPR will take place as from 25 May 2018 and, thus, companies qualifying as data controllers or data processors which fall under the scope of the GDPR are required to bring their data protection practices in line with the provisions of the new law by 25 May 2018. Even though there is still more than a year until then, we believe that the sooner companies start to get acquainted with the new rules, the better and more effectively they can accommodate the new regime, since getting prepared certainly takes time. As the amount of the fine under the GDPR may even reach EUR 20 million and 4% of the total worldwide annual turnover of the preceding financial year (whichever is higher) of the relevant undertaking, we think there is a good reason to believe that companies will tend to be very much willing to consider the provisions of the GDPR and pay even more attention to data protection rules.

The expected impact of the GDPR will no doubt be considerable, because its scope covers, amongst other things:

(i) companies with an establishment in the EU and processing personal data in connection with their activities (no matter if data processing actually takes place within or outside the EU); and

(ii) companies without an establishment in the EU but processing personal data of data subjects who are in the EU, in connection with (a) goods or services offered to them (irrespective of whether a payment of the data subject is required), or (b) the monitoring of such individuals’ behavior, as far as their behaviour takes place within the Union.

The guidebook we have prepared aims to summarize the main and possible challenges and focus areas worth addressing and paying attention to in an effort to be prepared for the application of the new rules. The guide necessarily contains general information concerning the GDPR and does not qualify as legal advice, however it may hopefully serve as a good starting point for preparation.

To view a full copy of the guide, please click here

If you have any questions, please contact Zoltán Kovács or László Pók.

Dr. Zoltán Balázs Kovács
Tel.: +36 (1) 472 3000
Fax: +36 (1) 472 3001
Email: zoltan.kovacs@szecskay.com

Dr. László Pók
Tel.: +36 (1) 472 3000
Fax: +36 (1) 472 3001
Email: laszlo.pok@szecskay.com

Web: www.szecskay.com