EU Data Compliance To Cost Top US Firms $1M In New Tech

By William Shaw (October 25, 2017, 6:34 PM BST) -- U.S. firms in the Fortune 500 will spend an average of $1 million on technology to comply with the European Union's impending new data regime that takes force in May, an international law firm said Wednesday.

Alongside firms on Fortune magazine's annual list of 500 U.S. companies earning the largest revenue each year, the 350 biggest companies on the London Stock Exchange, known as the FTSE 350, will also spend an average of £430,000 ($569,449) on the same goal, Paul Hastings LLP said.

The data, which Paul Hastings compiled through a survey, gives a glimpse of the huge efforts firms must...

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