As of May 25, 2018, U.S.-based businesses that have operationsin the European Union (EU) or that employ citizens of EU nationswill have new requirements to meet regarding data protection. This is when the new GeneralData Protection Regulation (GDPR) takes effect.

Any companies not prepared to meet the new regulations thatexperience a data breach could face massive fines. Agents sellinggroup plans, benefit or retirement packages to companies with EUemployees that will subsequently store personal information on those employees couldalso be affected.

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