Instituted by the EU Networking and Information Security (NIS) and General Data Protection Regulation (GDPR), these rules will require hardware and software changes along with new reporting requirements.
According to a research conducted by FireEye, one-third of respondents believe their company does not fully understand the implications of the new standards.
The majority of respondents believe the new EU regulations would have an overall positive impact beyond voluntary reporting and security assessments. Two-thirds of respondents cite software and hardware upgrades as a significant financial challenge, while more than half feel they are receiving no clear guidance to comply with the new legislation.
These laws will extend to companies doing business in the EU whether data is housed there or not. In January 2015, the EU Parliament said states no longer needed to comply with the EU Data Retention Directive that was invalidated by the EU Court of Justice in April 2014. Until new legislation is finalized in 2015, each EU state will address data retention on an individual basis.
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