Legal experts have sought to ease concerns over rumours that the funding structure of the Spanish data protection authority could incentivise heavy penalties against financial firms.
Industry insiders recently expressed concern over the decision to partially fund the Spanish Data Protection Authority (DPA) by means of fines gathered from those found to be in violation of the forthcoming General Data Protection Regulation (GDPR).
Sources who did not wish to be named said that had ignited fears that institutions would be given little leeway once the new regulation takes effect in May this year, despite the complexity of the reforms.
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