Compliance changes in 2024: What’s new?

2024 has been a busy year for businesses trying to keep up with compliance. From new cybersecurity regulations to evolving data protection laws, it’s clear that the landscape isn’t slowing down any time soon. So, what exactly changed this year? In this post, we’ll cover the major updates to compliance regulations in 2024 and what businesses need to know moving forward.

NIS2: Strengthening Europe’s cybersecurity

One of the most significant introductions this year was the NIS2 Directive. If you’ve been following our blog, you’ve already seen our breakdown of NIS2, but let’s quickly recap what it means for your business.

NIS2 builds on the original NIS Directive and expands its scope. It’s designed to ensure that critical infrastructure—from energy and healthcare to cloud services—has strong cybersecurity defenses. Under NIS2, more businesses than ever before are required to meet stringent cybersecurity standards, with mandatory incident reporting, stricter penalties for non-compliance, and increased accountability for senior management.

For businesses operating in sectors like digital services, transport, or finance, 2024 was the year to start paying attention to NIS2. Even if your business wasn’t covered under the original NIS Directive, NIS2 likely applies to you.

Key changes under NIS2:

• Expanded scope: More sectors are now included.
• Mandatory incident reporting: You must report cybersecurity incidents within 24 hours.
• Heavier fines: Penalties for non-compliance are tougher.
• Senior management accountability: C-level execs can be held responsible for failure to comply.

GDPR tweaks: Staying flexible

While GDPR hasn’t seen sweeping changes this year, there have been some adjustments and clarifications to help businesses stay compliant. One notable shift in 2024 was the greater emphasis on data minimization and the importance of regularly reviewing data processing practices to ensure only necessary data is being retained.

Additionally, regulators have been cracking down on businesses that fail to secure personal data. Data breaches continue to result in steep fines, and authorities are more vigilant than ever about ensuring that businesses follow secure data storage and deletion practices.

Key GDPR focus in 2024:

• Data minimization: The push to only collect and retain data that’s absolutely necessary.
• Breaches and fines: Higher scrutiny on businesses that fail to protect personal data, with significant fines for data breaches.

AI regulation: Compliance and machine learning

Another growing area of concern is the regulation of artificial intelligence. While not a fully formed regulation in 2024, there’s been increasing discussion around how businesses that use AI need to approach data protection and compliance. The EU has started laying the groundwork for AI regulations that would intersect with existing GDPR laws, particularly in the areas of automated decision-making, profiling, and the use of personal data by AI systems.

If your business is dabbling in AI, now’s the time to start thinking about how these emerging regulations will impact your operations.

Other compliance trends in 2024

Aside from NIS2 and GDPR, 2024 also saw businesses tackling supply chain security and vendor management. With more companies relying on third-party vendors, it’s becoming critical to ensure that those vendors are compliant with regulations. Expect a continued focus on third-party risk assessments and vendor audits in the years to come.

How ToolHive can help

Keeping up with all these changes isn’t easy, but that’s where ToolHive comes in. With ToolHive, you can:

• Track your tools and ensure they meet NIS2 and GDPR compliance requirements.
• Monitor data retention and deletion practices to avoid unnecessary risks.
• Keep a close eye on your vendor relationships, ensuring third-party compliance is part of your process.

Final thoughts: 2024 was just the beginning

2024 brought important changes to how businesses handle data protection, cybersecurity, and compliance. From the introduction of NIS2 to the growing conversation around AI, this year was a reminder that staying compliant means staying proactive. Make sure your business is prepared for what’s coming next—because 2025 is shaping up to be even more transformative.