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Member, Beacon International Group, Ltd.
A cyber specialist at Lloyd's of London insurer Beazley P.L.C. said that U.K. firms will face increased cyber regulation from new E.U. regulations on data breaches regardless of the outcome of the E.U. referendum, reported Glock Takes Stock.
The new E.U. General Data Protection Regulation carries fines of up to 4% of annual turnover for mishandling data and data breaches.
An official at law firm DAC Beachcroft L.L.P. said that in case Britain leaves the E.U., any British firm doing business in Europe will still be exposed to the new regulation.