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Top regulators seeking EU GDPR exceptions

(Image credit: Image source: Shutterstock/Wright Studio)

EU regulators are under increasing pressure from their peers in other parts of the world due to how GDPR (mis)handles cross-border investigations, Reuters (opens in new tab) is reporting this Monday.

According to the extensive report, the problem with GDPR is that it is tough on exemptions which can sometimes be necessary, when law enforcement agencies look to investigate cases of market manipulation and fraud.

Previous law allowed regulators to use the exemption to share vital information. As of May 25, doing so puts them into 'legally ambiguous territory', because GDPR 'leaves room for interpretation'.

The premise is simple: Without explicit guidance, US probes into fraud and market manipulation can be interpreted by some countries as a violation of privacy. Now, regulators are pressing the European Data Protection Board (EDPB) to sign-off on an “administrative arrangement” which would clarify how the exemption for the interest of the general public can be applied to cross-border information sharing.

GDPR, or General Data Protection Regulation, came into force on May 25, 2018. It is an EU-wide regulation that dictates how companies collect, store, save and share user data. It also dictates how businesses should behave in case of a data breach. Those companies that fail to comply with the new regulation face hefty fines, going up to 4 per cent of their global annual turnover, or €20 million, depending on which figure is greater.

Image source: Shutterstock/Wright Studio

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.