Viviane Reding, the European Commission vice-president and justice commissioner, launched a proposal on January 25, 2012, for a new EU Data Protection Regulation, referred to as the "General Data Protection Regulation" (GDPR). If adopted, the GDPR would reshape the European data protection framework in a harmonious way, ensuring EU residents a high level of protection for their personal data. Already, this European Commission proposal has elicited much attention in the legal and business world. After putting the GDPR in perspective, this article will: Briefly discuss legislative action and the time frame, set out some important (and sometimes controversial) provisions, and attempt to draw lessons for businesses.