Comparing GDPR And PIPA – Is There A Difference?

Investors in offshore financial centres increasingly require and demand data privacy. Obligations to collect personal data resulting from new international data sharing regimes, combined with cybersecurity concerns and innovative technology deployments, are making the regulation of personal data more complex than ever before.

The latest addition to the data protection legislative canon is the European Union's (EU) General Data Protection Regulation (GDPR) which is due to come into effect from 25 May 2018. The GDPR is designed to allow individuals to better control their personal data and to establish one single set of data protection rules across the EU, making it simpler and cheaper for organisations to do business. So far, so sensible. The sting in the tail however is that organisations outside the EU may also be subject to the GDPR. With fines of up to €20 million or 4% of the entity's global gross revenue, organisations in Bermuda need to understand their