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I have been following the dispersed EU legislation on privacy.
It ranges to relaxed in some countries to very strict in Holland and Germany. The two countries are setting a good privacy model. Their legiuslation goes beyond digital marketing. Some companies go to the extent of sending traditional post inviting users to register. Furthermore users must check the box they agree with terms and conditions in order to submit the form.
I have compiled the main topics. It is importamt to highlight it does not matter where the marketing company is located. It is the location of recipients that counts.
The European Commission's "Digital Agenda for Europe" sets the framework for relevant legislation.