Just what we needed, page-166

A new article about another data breach situation in which Trent has provide some comments.

Kiddicare Reports Data Breach of Personal Information
Dan Raywood Acting Editor, Infosecurity Magazine

Email Dan Follow @DanRaywood
9 MAY 2016

http://www.infosecurity-magazine.com/news/kiddicare-reports-data-breac/


Trent mentions EU GDPR in his comments - what is this you ask?
European Union’s General Data Protection Regulation


EU Publishes Final Text of GDPR
Blog Privacy & Security Law Blog

Davis Wright Tremaine LLP
European Union May 9 2016

http://www.lexology.com/library/detail.aspx?g=528de5a5-8bd2-498e-9725-f3aaa362c2ac

Enforcement of Europe’s new data protection regime will begin May 25, 2018

On May 4, 2016, the final version of the European Union’s General Data Protection Regulation (“GDPR”)was published in the Official Journal of the EU. The GDPR, which will replace the EU’s current Data Protection Directive, will enter into force on May 25, 2016; however, enforcement of the GDPR will not begin until May 25, 2018, giving businesses and other entities subject to EU privacy and data security laws a two-year window to become compliant with the new data protection regime. In the interim, entities are expected to continue adhering to the Data Protection Directive until enforcement of the GDPR begins in 2018.

Because the GDPR will bring a large number of changes to Europe’s data protection laws – including significantly higher penalties for non-compliance – businesses and other entities operating in EU Member States are encouraged to use this two-year window to make any changes to their data security and privacy practices necessary to be fully in-line with the GDPR by the time it comes into effect on May 25, 2018.

More U.S.-based companies will be subject to EU privacy rules due to the expanded jurisdictional scope of the GDPR, which also gives expanded rights of consent and data portability and imposes many new responsibilities on service providers (so-called “data processors”) than before. We recommend that companies with activities in Europe begin this process as soon as possible.
---------

This has to be good for the security space that Covata is playing in right now with a very good reason why companies need to start doing something asap.  New directive starts from 26 May 2016 with enforcement starting from 25 May 2018 (2 year "do something" period).

I expect this will be very good for the Covata pipeline in the short, medium and long term. Now if Covata could start to convert some of the pipeline into revenue soon to become cash flow positive, then the future looks very bright indeed.  Covata is well positioned with its Telco and OEM proliferation strategy.