It does. When GDPR was about to be placed in effect, the company I worked for in Brazil, send a communication to all our clients saying that they needed to communicate us if they were in Europe for us to process their claims (life insurance) with a third party European partner because the Brazilian office would not be able to comply with European regulations and the company would not even going to answer emails from clients located there. Eventually Brazil made their own data protection laws based on the European one and the company re opened contact with their clients located there.