The General Data Protection Regulation (GDPR) was adopted in April of 2016 by the European Union and became effective in May of 2018. At a high level, these regulations are fairly straightforward in their requirement to “Protect User Data,” but we see that, like any regulation worth its salt, compliance may not be as straightforward as advertised. As you’ll see, despite the complexities and sea of acronyms to be had, the bottom line is data privacy compliance will spur corporate spending, leading to an investing opportunity to those that recognize it. With that said, here’s a look at GDPR’s set of regulations affecting companies that collect data on citizens of countries within the European Union.
This legislation looks to lay out a framework that protects “fundamental rights and freedoms of natural persons and in particular their right to protection of personal data.” From the get-go, this is strong stuff.