Article

Help! Europe is coming

2 min read
January 4, 2024
Help! Europe is coming

Impact of laws and regulations and the developments

There’s an extensive process involved in the creation of European laws or regulations up to their actual implementation in the Netherlands. If a directive is established within Europe, it imposes obligations on the member states but not directly on citizens. This happens through the implementation of that law or regulation. An example is a regulation, which contains rules that apply directly to all European Union member states. For each European law or regulation, it needs to be determined how it can be implemented: sometimes by introducing or amending a law (like the AVG), in other cases through a ministerial regulation or decision (or a combination).

This implementation process is time-consuming and demanding, requiring a lot from governments, businesses and regulators. The impact of a European law or regulation needs to be examined, as well as the intersections with existing Dutch laws and regulations, and a strategy for execution needs to be devised. History teaches us that this process can take years.

Developments in digitalization seem to be surpassing that pace. There’s a growing need for frameworks and guidance on handling our digital identity, as well as a vision on how to deal with algorithms or collective cybersecurity rules. Examples of legislation coming from Europe include the Accessibility Act, Digital Services Act, Digital Markets Act, Data Act, eIDAS regulation and AI Act. And these are just a few examples.

Start today assessing the impact of the new laws and regulations on your organization

My stance is that we in the Netherlands need to act now: begin by assessing the impact of all these developments. Map out what’s coming, at what pace, who’s involved and especially what the opportunities and possibilities are with these European developments. Given the significant impact of these kinds of developments on citizens and businesses, the focus shouldn’t just be on complying with laws and regulations; we should look at how to leverage them to further advance digitalization policies and implementation.

Elize Vos
Elize Vos

Consultant

Elize is consultant at Highberg, is an actuary, member of the Actuarial Association and holds the title AAG. She has extensive experience in pension advisory….
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