1 Matching Annotations
  1. Jan 2018
    1. The proposed new EU data protection regime extends the scope of the EU data protection law to all foreign companies processing data of EU residents. It provides for a harmonization of the data protection regulations throughout the EU, thereby making it easier for US companies to comply with these regulations; however, this comes at the cost of a strict data protection compliance regime with severe penalties of up to 2 % of worldwide turnover.

      This appears to be the source for the quote. If you search the web for the quote, though, it seems most often to be attributed to Wikipedia itself.