Data protection compliance may not be high priority on the radar screen for many entrepreneurial businesses. However, the Bulgarian and other data protection authorities have become much more active and penalties for breaches of data protection laws are increasing.
Almost every business is subject to data protection registration and compliance obligations, whether because they hold personal data about employees, suppliers or customers. Where a business operates across borders, it will be subject to compliance obligations in different EU Member States and countries.
A new EU Data Protection Regulation aims to simplify the interactions of businesses which operate in a number of Member States with the separate national data protection regulators, by establishing the principle of having one “Lead Supervisory Authority” and introducing new ‘appropriate safeguards’ for data transfers, including : approved codes of conduct, certification mechanisms, seals and marks and a new prescribed process for Binding Corporate Rules.
This slide pack (downloadable PDF) prepared for GEM Bulgaria by Wolf Theiss highlights the data protection obligations on entrepreneurial businesses and highlights the new regime under the EU Data Protection Regulation.
Established in 1957, the Platinum Sponsor of the first Annual GEM Bulgaria Conference Wolf Theiss focuses on international business law. With 340 lawyers in 14 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, the law firm represents entrepreneurs, local and international industrial, trade and service companies, as well as funds, banks and insurance companies. Their focus always lies on offering practical, hands-on advice that is firmly grounded in commercial reality. Bulgaria is an exciting and unique country with many opportunities. Wolf Theiss has a team of 35 professionals in Sofia who lead some of the most complex transactions and projects in Bulgaria and Macedonia as well as managing cross border, multi-country, acquisitions and transactions across CEE.