Comment Re:This looks like a failure waiting to happen (Score 1) 243
The intent I fully and whole-heartily agree with... However, 2% of _world_wide_revenues_ is what concerns me. I'd rather see it phrased as 2% of world-wide revenue apportioned to user base / affected users (affected or not by breach).
Hence, the larger the breach, the larger the fine. I could easily see Company A arguing to US regulators : "We shouldn't have to pay for US users as the EU already fined us for everyone.".