The current fragmented system of data protection laws in the E.U., so often a complicating factor in cross-border anti-corruption investigations, is on the verge of a significant overhaul. The European Parliament voted overwhelmingly in support of proposing the General Data Protection Regulation last month with a vote of 621-10. The Regulation outlines a data protection framework that would replace the existing framework of Member State-specific laws. This article analyzes the new Regulation with insights derived from a recent webinar hosted by the Society of Corporate Compliance and Ethics and led by Robert Bond, a partner and Head of Data Protection & Information Security at Speechlys Bircham in London. Bond’s program focused on the potential timeline of the proposed Regulation as well as four practical changes that companies should consider if the Regulation is enacted within the E.U. For an in-depth analysis of the current E.U. data protection framework and FCPA compliance, see “Conflicting Compliance Obligations: How to Navigate Data Privacy Laws While Performing Internal Investigations and Promoting FCPA Compliance in the E.U. (Part One of Three)
,” The FCPA Report, Vol. 2, No. 1 (Jan. 9, 2013); Part Two of Three
, Vol. 2, No. 2 (Jan. 23, 2013); Part Three of Three
, Vol. 2, No. 3 (Feb. 6, 2013).