The EU's General Data Protection Regulation: Why It Matters To You

The European Union has traditionally been more protective of privacy than the United States, which has led to substantial challenges for many US companies. Those challenges are now greater and affect many more US businesses as a result of the recent EU adoption of the General Data Protection Regulation (GDPR), which represents a sea change compared to prior law. Rather than a mere rule or two, the GDPR is a complicated set of myriad requirements. Frequently, a major misconception is that GDPR requires only an update to a company's privacy policy and compliance with such new policy, but as noted below, there are numerous other provisions which are equally important. We also anticipate companies being required to make representations and warranties regarding GDPR matters in M&A and finance transactions. While a detailed analysis is beyond the scope of this newsletter, the following can serve as an introduction to some key provisions.