Thought some of you might be interested in this:
http://ec.europa.eu/justice/data-pro...ite/index.html
They're proposing a rewrite of the 1995 data privacy directive. Seems quite sweeping, too - proposed fines for companies failing to take proper measures (such as notifying customers within 24 hours of a breach) can reach up to 2% of revenues (not even profit!). Fun stuff.
Oh, I consult in the area of security and privacy, if any CIOs out there are interested.