Trying to Tackle Big Data: European Union Launches Draft Data Act

On 23 February 2022, the European Commission (Commission) proposed a draft of a regulation on harmonised rules on fair access to and use of data – also known as the Data Act. The Data Act is intended to “ensure fairness in the digital environment, stimulate a competitive data market, open opportunities for data-driven innovation and make data more accessible for all”.

If adopted in its current form, the new rules will impose far-reaching obligations on tech companies (such as manufacturers of connected products and cloud service providers) and give national authorities new enforcement powers to sanction infringements with fines of up to EUR 20 million or 4% of annual global revenue, whichever is higher. (more…)

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