The EU’s new data protection rules will be finalised by the end of 2015, according to the three European bodies that are taking part in the negotiations.
The Commission, the European Parliament and the Council of the EU will start finalising the creation of a ‘one-stop-shop’ for businesses and citizens on data protection from 24 June.
It’s believed the new single set of rules for those working inside the EU could save save businesses around €2.3bn a year, which will “particularly benefit small and medium-sized enterprises”, the Commission said.
The removal of notification requirements for companies alone has been estimated as being able to generate a €130m per year saving.
“The results of the latest round of negotiation on European data protection regulations has produced a mixed bag,” said Mike Weston, CEO of data science consultancy Profusion. “On one hand, reducing the burden on businesses by removing ‘unnecessary administrative requirements’, is very welcome. However, most of the proposed regulation seems to be couched in ambiguity and overly flexible.
“For example, Article 6(4) allows companies to change how and what they do with people’s data if they can show ‘legitimate interest’. Obviously, such vague terminology is going to produce a lot of problems in the future in relation to what exactly a ‘legitimate interest’ actually is.
“Data protection does need a big rethink to keep pace with new initiatives such as smart cities and wearable technology. People and businesses generally need more protection and clarity, however, I’m not convinced that the proposed regulation, in its current form, offers either.”