European Parliament Adopts Final Version Of The Data Act

On 9 November 2023, The European Parliament formally and overwhelmingly adopted the final version of the Data Act.

On 9 November 2023, the European Parliament formally and overwhelmingly adopted, by a majority of 481 votes in favour, 31 votes against and 71 abstentions, the final version of the proposal for a regulation of the European Parliament and of the Council on harmonised rules on fair access to and use of data (the "Data Act"). It will now need formal approval by the Council to become law.

The Data Act was initially proposed by the European Commission on 23 February 2022 as part of the EU Data Strategy package, with the aim of ensuring fairness in the digital environment, stimulating a competitive data market, opening up opportunities for data-driven innovation and making data more accessible for all. In practice, it establishes rules on the sharing of data generated through the use of connected products or related services (e.g. the Internet of Things