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New EU General Data Protection Regulation has an impact on Swiss companies
The European Union has revised its data protection law. The new EU General Data Protection Regulation (DSGVO) is intended to better protect personal data of EU citizens. This includes the right to delete personal data. Not only companies based in the EU are affected, but also the vast majority of companies from Switzerland. Even those who have no branches in the EU. It is sufficient if they process data from customers who are in the EU or even if they offer goods or services in the EU. Those who do not comply with the law are facing severe penalties: Up to 4 percent of annual revenue or up to 20 million euros can be issued in extreme cases.
(only availabe in German)