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Trading and Investment Terminology

General Data Protection Regulation (GDPR)

The General Data Protection Regulation or the GDPR is a legal structure that declares the rules for the collection and handling of individual data from people who live in the European Union (EU).


Since the regulation applies irrespective of where sites are based, it must be heeded by all websites that draw in European visitors, regardless of whether they don't specifically advertise products or services to European residents.


The GDPR orders that EU visitors be given various data disclosures. The site should likewise find a way to encourage such EU consumer rights as a timely notification in case of individual data being breached.


Embraced in April 2016, the Regulation came into full effect in May 2018, following a two-year transition period.


Under the guidelines, visitors must be informed of information the site gathers from them and explicitly agree to that data gathering, by clicking on an Agree button or other activity.


This necessity to a great extent clarifies the ubiquitous presence of disclosures that sites collect "cookies" small Javascript documents that hold individual data such as site settings and preferences.


Sites must likewise inform users in a timely manner if any of their personal information held by the site is leaked. These EU requirements might be more strict than those needed in the country in which the website is hosted.