ANNOUNCED AS TEMPORARYNo
The Regulation, inter alia, enables a free flow of personal data within the European Union. It thereby prohibits data localization regulations which would hinder data transfers within the Union on the grounds of protecting personal information. Hence, it is considered trade-liberalising.
The preamble (par.7) of the Regulation also concedes that at the moment "(d)ifferences in the level of protection of the rights and freedoms of natural persons, in particular the right to the protection of personal data, with regard to the processing of personal data in the Member States may prevent the free flow of personal data throughout the Union."
Furthermore, article 51 of the Regulation stipulates that "(e)ach Member State shall provide for one or more independent public authorities to be responsible for monitoring the application of this Regulation, in order to protect the fundamental rights and freedoms of natural persons in relation to processing and to facilitate the free flow of personal data within the Union (‘supervisory authority’)."
The regulation will come into force on 25 May 2018.
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