In short, no. The cookie EU law that was set to start on May 26th 2011 has been deferred for an extra year because many companies are not ready to implement the measures required to inform users visiting their website. Which i have to admit, includes us. This new law requires a user's consent before using cookies. (not the edible crumbly kind)
Cookies are text files stored on your computer while your browsing the internet, they store snippets of information. An example could be a welcome message when you first visit a site, after you close it a cookie is stored so that you don't have to keep clicking the x to remove it every time you re-visit the site. For more information about cookies click here.
The changes are demanded by the European e-Privacy directive.
The section of the directive dealing with cookies was drawn up in an attempt to protect privacy and, in particular, limit how much use could be made of behavioural advertising. This form of marketing involves people being tracked across websites, with their behaviour used to create a profile that dictates the type of adverts they see.
The directive demands that users be fully informed about the information being stored in cookies and told why they see particular adverts. However, the directive is likely to have an impact on the more general use of cookies that remember login details and enable people to speed up their use of sites they visit regularly.
It could mean that once this new law does come into effect, users see many more pop-up windows and dialogue boxes asking them to let sites gather data. It just depends how each company decides how to tackle the issue. I found a really good example of how companies could approach this task on the new Alpha UK Government Website.
For now though, we have another year to come up with solutions that comply with the law but don't make it annoying for the user, personally i believe a browser approach would be a much better way forward as i can guarantee even after another year a lot of companies still won't be ready.
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