Here’s a quick summary for my own reference and to be used by others if they find it helpful.
- It’s goal is to strengthen privacy for individuals within the EU.
- Its focus is uniting, simplifying, and strengthening regulations around this.
- It was accepted on April 27, 2016, and goes into effect on May 25, 2018.
- The regulation extends the scope of protection from EU-only to include foreign companies that process data for EU citizens.
- One of the main features is the accountability piece, which assigns fines up to 4% of yearly global turnover for violations of the regulation.
I could use some help making this summary better. If you are strong on this, let me know.