As someone who has worked at and run a company and dealt with lawyers regarding these regulations directly, I can tell you this is 100% not the case.
I’m sorry, but it turns out regulation with punitively high fines attached to it creates massive regulatory risk for public companies that have a duty to shareholders to take them extremely seriously, and document everything along the way. Otherwise they don’t just get in trouble with regulators, but end up in endless litigation with shareholders.
How you can believe creating an extremely nuanced set of holes, that if stepped in, results in billions of fines won’t delay new launches (and innovation ultimately) in the EU is just astonishing to me. The fun part is all the traps that open due to the combination of different regs interacting and new interpretations due to actual court cases.
Please don’t turn this into another “malicious compliance evil-corporate conspiracy” meme like GDPR is on this site. It doesn’t cultivate intellectual curiosity, just flame wars, and is making me want to not hang out here anymore.
I’m sorry, but it turns out regulation with punitively high fines attached to it creates massive regulatory risk for public companies that have a duty to shareholders to take them extremely seriously, and document everything along the way. Otherwise they don’t just get in trouble with regulators, but end up in endless litigation with shareholders.
How you can believe creating an extremely nuanced set of holes, that if stepped in, results in billions of fines won’t delay new launches (and innovation ultimately) in the EU is just astonishing to me. The fun part is all the traps that open due to the combination of different regs interacting and new interpretations due to actual court cases.
Please don’t turn this into another “malicious compliance evil-corporate conspiracy” meme like GDPR is on this site. It doesn’t cultivate intellectual curiosity, just flame wars, and is making me want to not hang out here anymore.