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New Data Protection Reform Vote - What does the reform do for SMEs?
Continuing the discussion we introduced in September – click here - The European Commission's data protection reform proposals were approved by the European Parliament’s Committee for Civil Liberties, Justice and Home Affairs (LIBE) in a vote held at the end of October.
In a press release it was noted that under the new rules SMEs will benefit from four reductions in red tape:
Data Protection Officers: SMEs are exempt from the obligation to appoint a data protection officer insofar as data processing is not their core business activity.
No more notifications: Notifications to supervisory authorities are a formality and red tape that represents a cost for business of 130 million euro every year. The reform will scrap these entirely.
Every penny counts: Where requests to access data are excessive or repetitive, SMEs will be able to charge a fee for providing access.
Impact Assessments: SMEs will have no obligation to carry out an impact assessment unless there is a specific risk.
It should also be noted that the new administrative sanctions can call for fines of up to 100 000 000 EUR or up to 5% of the annual worldwide turnover.
In a press release it was noted that under the new rules SMEs will benefit from four reductions in red tape:
Data Protection Officers: SMEs are exempt from the obligation to appoint a data protection officer insofar as data processing is not their core business activity.
No more notifications: Notifications to supervisory authorities are a formality and red tape that represents a cost for business of 130 million euro every year. The reform will scrap these entirely.
Every penny counts: Where requests to access data are excessive or repetitive, SMEs will be able to charge a fee for providing access.
Impact Assessments: SMEs will have no obligation to carry out an impact assessment unless there is a specific risk.
It should also be noted that the new administrative sanctions can call for fines of up to 100 000 000 EUR or up to 5% of the annual worldwide turnover.
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