On May 4, 2016, the European Parliament and European Counsel published a long-awaited Data Privacy Regulation on the protection of natural persons with regard to the processing of personal data and on the free movement of such data. The new regulation may impact US pension and benefit plan administrators working with plans that cover European Union (EU) citizens or individuals (which may include US citizens) residing within the EU. The new Data Privacy Regulation is to take effect on May 25, 2018.
Please see the attached memo for further information.
