BCLP Paris Partner Antoine Martin and Counsel Sarah Delon-Bouquet authored an article published in the January edition of the magazine AGEFI Luxembourg on the impact of the GDPR (General Data Protection Regulation) on the security of European citizens’ personal data and on business competitiveness. Martin and Delon-Bouquet underline the new provisions in place under the GDPR related to transparency, individuals’ information and data processing security. They explain that in view of the growing number of data breaches, it is not certain the GDPR is really a breakthrough in terms of data security for individuals. Furthermore, companies perceive the GDPR as a constraint, a source of costs, and sometimes even a brake on their competitiveness compared to companies outside the EU not subject to this regulation.
Martin and Delon-Bouquet demonstrate that in fact compliance with the GDPR can be a competitive tool for companies in the global market. On the one hand, more and more countries are adopting similar legislation and, with the GDPR having an extraterritorial influence, all companies are affected, even those located outside the EU. On the other hand, individuals are more and more concerned with enforcing their rights regarding the processing of their personal data. Today, requests for access by individuals to their data are increasing and can be restrictive and risky for companies that do not have automated processing procedures in place.