The business environment needs accessible and predictable normative acts, transparent procedures  and procedures for addressing applications submitted by institutions and authorities as quickly as  possible.

Bureaucracy is the greatest enemy of the business environment, followed closely by corruption.  These two phenomena hinder and restrict the activity of companies causing major losses of money  both for the companies and for the states within which such companies conduct their activity.

The same is also valid as concerns the field of personal data protection at EU level, field within  which applicable sanctions become more and more severe, and the laws are complex and differ from  one state to another.

Multinational companies have difficulties with the issue of personal data protection, be it in  terms of personal data protection in each of these states for each and every legal entity, or as  concerns the transfer of such data between subsidiaries and the parent company.

Excessive costs are incurred for complying with the laws  of each state within which the company  conducts its activity and extensive time must be allotted for notifying or even authorizing the  processing of personal data in each such state.

This is the backdrop in which, in March this year, the European Parliament adopted the Regulation  and Directive proposals advanced by the European Commission since December 2012 in the field of  data protection.

Naturally, the economic players ask themselves: what are the changes to be expected and what is the  impact of the new legislative framework?

Changes are substantial: A single data protection legislation for all EU Member States and a single  authority monitoring personal data processing. Moreover, companies will no longer be compelled to  notify the authority each time they intend to process personal data. The advantages are  unquestionable: reduced time spans and lower costs. The figures provided by the European Commission  with respect to the economic effects generated by the new Community legislative framework are  impressive: a reduction of approximately EUR 2.3 mil in the total annual costs incurred by  companies active in the EU area is expected to occur. In addition, it is expected to bring, at the  level of each and every consumer, an increase of trust in e-commerce and on-line services, the  creation of new jobs, social stability and welfare.

And, seeing as the stakes are high, when speaking about personal data processing, although  companies will bypass a long series of bureaucratic obligations, the obligations referring to the  safe storage and processing of such data remain as forceful as ever. The new Community legislative  framework enhances the European citizens’ rights of control over the way in which their personal  data are processed at the level of the entire European Union, also introducing sanctions of up to 5  % of turnover designed to discourage the infringement of the legislation in this field.

Given the unitary desire of those involved in the Community decision-making process to have a new  legislation in the field of data protection, it is very likely for the changes anticipated above to  be introduced next fall or spring.