In 2012, the European Commission proposed a major reform of the EU legal framework on the protection of personal data. With social networking sites, cloud computing, location-based services and smart cards, digital traces are left with every move made, and technological progress and globalization have profoundly changed the way data is collected, accessed and used. In addition, the 27 EU Member States have implemented the 1995 rules differently, resulting in divergences in enforcement. The proposed comprehensive reform should replace the EU's 1995 data protection rules. The new proposals strengthen individual rights (namely online privacy rights) and tackle the challenges of globalization and new technologies. A single law will do away with the current fragmentation and costly administrative burdens, leading to expecting savings for businesses of around €2.3 billion a year. The initiative is hoped to help reinforce consumer confidence in online services, providing a much needed boost to Europe's digital economy i.e. boost to growth, jobs and innovation in Europe. After months of discussion, the Committee on Civil Liberties, Justice and Home Affairs (LIBE) of the European Parliament voted on compromise amendments to the draft General Data Protection Regulation on Monday 21^st October 2013. These amendments will now feed into negotiations between Parliament, the Council of Ministers and the Commission. The vote of the LIBE committee is an important move towards adoption of the draft Regulation. The Regulation will be enforceable in all Member States two years after it has been adopted. The present presentation will focus on the main changes provided for in the draft Regulation.