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Regulatory roundabout: Five developments you need to know

We highlight notable European regulatory developments, from updated guidelines on data breach notifications to exploration of a digital euro.

The European Data Protection Board adopted complementary guidelines on data breach notifications, introducing more practice-orientated guidance and recommendations. The guidelines, adopted on 18 January, contain an inventory of data breach notification cases such as ransomware and data exfiltration attacks.
The UK published its National Security and Investment Bill briefing paper on 18 January, outlining its proposed new regime for reviewing and intervening in foreign derived business transactions, such as takeovers, that might raise national security concerns.
The European Commission (EC) and European Central Bank announced on 19 January that they are exploring the possibility of issuing a digital euro, as a complement to cash and payment solutions supplied by the private sector. The institutions said they are reviewing a broad range of policy, legal and technical questions emerging from a possible introduction of a digital euro.

On 21 January, European MEPs called for the system used to draw up the EU’s list of tax havens to be changed, as it is currently “confusing and ineffective”. The list has failed to live up to its full potential, since it accounts for less than 2% of losses in worldwide tax revenues, the MEPs argued.
A study published by the EC on 26 January found that trade agreements have impacted positively on the agri-food sector. Trade deals will result in substantial increases in EU agri-food exports, with more limited increases in imports, creating a positive trade balance overall, according to the study.