On January 15, 2024, the European Commission
("Commission") renewed Canada's
adequacy status under the General Data Protection Regulation
("GDPR").1 You can read the
Commission's full report setting out its adequacy decision here (the
"Report").
The following bulletin will give you a brief overview of the
GDPR, the importance of obtaining adequacy status, and why
Canada's adequacy status is important for Canadian
businesses.
What is the GDPR?
The European Union ("EU") enacted the
GDPR in May 2018.2 The GDPR strengthens the protection
of all EU citizens with respect to the transfer of their personal
data and harmonizes national data privacy laws throughout the
EU.3The GDPR requires all companies processing the
personal data of EU residents, including companies established
outside the EU if they operate in the EU, to comply with the data
protection rules set out therein.4 For example, the GDPR
requires that companies obtain "specific, informed and
unambiguous
