The Tell: 5 things to know about the GDPR rules taking effect Friday — which could cost big, bad tech billions

There’s been a renewed focus on protecting personal data in recent months, thanks to Facebook drawing all sorts of flak for how it managed people’s sensitive information.

So European Union regulators might be patting themselves on the back for their new General Data Protection Regulation, a set of data-handling rules that are taking effect on Friday.

Below are five things to know about GDPR, which has been making American companies — including Facebook FB, -0.52% — change how they do business.

In January, Facebook COO Sheryl Sandberg said the company was trying to make it easier for the social network’s users worldwide to manage their privacy before the wide-ranging EU law kicks in.

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