Records Retention requirements Under The european Union Data privacy Directive

摘要

With the EU playing a major role in the developing e-commerce re- gime, it will become imperative for other major players in the field to come up with ways to make their own data privacy laws "adequate" by the EU's standards. The United States was able to negotiate the Safe Harbor because of its immense bargaining power, especially in the international trade arena. Other countries will not be able to negotiate with the EU on that level. Since aspects of the EU data privacy regime are still untested, companies should take care to ascertain the applicable laws of countries in which they do business and follow the letter of the law. Although a range of sanctions may be applied for failure to comply, including compensation for individuals for losses, a company that repeatedly fails to comply may lose its Safe Harbor benefits.