Disagreements over incoming European data protection laws could risk widespread industry confusion and an excessive compliance burden for financial firms, experts have warned.
The General Data Protection Regulation (GDPR), which is currently in “trilogue” talks between the European Parliament, Commission and Council, has proposed extensive EU-wide cybersecurity requirements that would need to be implemented within two years.
However, experts have said that during those negotiations several aspects of the text that were aimed at harmonising data protection standards have now been diluted or removed.
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