The Brazilian Data Protection Law: What Does It Mean for Private Equity?
In August 2018, Brazil’s Congress passed the General Data Protection Law (Lei Geral de Proteção de Dados, or LGPD), a sweeping data protection reform that brings Brazil into step with the EU’s GDPR and international best practice. The LGPD is due to come into force in 2020 and creates another regulatory obligation for private equity firms with a footprint in Brazil.
The LGPD forms part of an emerging global trend in data protection regulations, led by the GDPR in the EU. Since the GDPR came into force in May 2018, new or updated data protection regulations have been drafted and passed internationally, including in the US (led by the California Consumer Privacy Act), India, and Thailand. More recently, in January 2019, the US Congress began a series of consultations on the creation of new federal privacy law.