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International Restructuring Newswire
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Global | Publication | May 2018
Authors: Fiona Bundy-Clarke, Emma Humphries
The EU General Data Protection Regulation (GDPR) will apply directly in all EU Member States from 25 May 2018. It will repeal and replace Directive 95/46EC and its Member State implementing legislation.
Together with the Directive on the Processing of Personal Data for the Purpose of Crime Prevention, the GDPR presents the most ambitious and comprehensive changes to data protection rules around the world in the last 20 years.
The GDPR rules apply to almost all private sector processing by organisations in the EU or by organisations outside the EU which target EU residents. The export regime will ensure their impact is felt where such organisations transfer personal data to the EU.
The maximum fines for non-compliance are the higher of €20m and four per cent of the organisation’s worldwide turnover.
The broad territorial scope of GDPR and the global nature of the shipping industry requires shipowners around the world to consider carefully whether the regulation applies to their business.
Shipowners will be affected if they:
The concept of accountability is at the heart of the GDPR rules: it means that organisations need to be able to demonstrate that they have analysed the GDPR’s requirements in relation to their processing of personal data and that they have implemented a system or programme that allows them to achieve compliance.
Our GDPR checklist is designed to give an illustrative overview of the requirements likely to impact most types of businesses and the practical steps that organisations need to take to meet those requirements. It can be used to gain an understanding of where an organisation has gaps in its compliance and to articulate how its control programme meets the requirements. It should be noted that certain parts of the GDPR (such as exceptions to the data subject rights and where processing is in the substantial public interest) are supplemented by Member State local legislation and guidance from local data protection authorities and the Article 29 Working Party, which becomes the European Data Protection Board under the GDPR.
Publication
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Publication
n a long-running dispute, taking in no less than three arbitrations spanning 26 years cumulatively (involving allegations of state interference in the arbitral process), the Court has provided useful guidance on the ss.67 and 68 challenges, particularly in the context of investor-state claims.
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