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The EU has published General Data Protection Regulation (REGULATION (EU) 2016/679 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 27 April 2016). Organisations have to comply by 25 May 2018. Certainty 1: You will be Audited and Could be Fined With the Information Commissioners Office (ICO) having  no set budget for next year, the regulator will be conducting external

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There is, however, a key legal obstacle to finalising the Omnibus II Directive. The entire Level 2 text process outlined above, is subject to approval of a ‘sunrise clause’ that temporarily overrides the Omnibus II Level 1 text and allows the Level 2 Regulatory Technical Standards to be drafted, not by EIOPA, but by the Commission. A sunrise clause is

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Publication of Level 2 text paves the way for EIOPA to publicly consult on, and publish, the Level 3 guidelines and technical standards. Because the Level 3 text is not legally binding and therefore does not have to be transposed into national law, some consultations can already begin. In practice, EIOPA has been working on the Level 3 text for

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Two points are noteworthy here. First, the Commission said that it does not intend to open the text for consultation again. The proposal has been consulted on semi-publicly in November 2010 and has undergone a number of non-public consultations with key stakeholders. Second, the duration of the objection period itself is currently under discussion in the trialogues (as part of

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Once the Omnibus II Level 1 text is agreed in the trialogues it must be approved by a plenary vote in the Parliament first, and then by member states in the Council. Although the ECOFIN Council is responsible for the Directive and takes part in the trialogues, Omnibus II can be approved by any Council configuration (e.g. agriculture or foreign

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