EU-U.S. Privacy Shield – Full Text Released
Posted on Mar 9, 2016 in Energy and Infrastructure, Financial Services, Insurance | Comments Off on EU-U.S. Privacy Shield – Full Text Released
On February 29, 2016, the European Commission released the text of the EU-U.S. Privacy Shield. The text reveals the details of a new framework that will place stronger obligations on U.S. companies to protect the personal data of EU citizens. It will also involve heightened compliance requirements and authorizes enforcement measures by the U.S. Department of Commerce (Commerce) and the...
Data Sentinel: The Evolving Role of the Attorney as Protector of Company Data
Posted on Mar 7, 2016 in Financial Services, Insurance | Comments Off on Data Sentinel: The Evolving Role of the Attorney as Protector of Company Data
Data. It is one of your organization’s greatest assets, and a necessary part of doing business. But in today’s financial services environment, it is also a source of one of your organization’s greatest risks. In their article for FinTech Law Report, Sutherland attorneys Michael Steinig and Mary Jane Wilson-Bilik describe the attorney’s evolving role in protecting company data, and...
Pros and Cons of the Payment Card Industry Data Security Standard
Posted on Mar 1, 2016 in Financial Services, Insurance | Comments Off on Pros and Cons of the Payment Card Industry Data Security Standard
The Payment Card Industry Data Security Standard (the PCI DSS) establishes the self-described minimum data protection measures required of all entities involved in payment card transactions. The PCI DSS consists of 12 basic requirements, along with testing procedures and guidance designed to assist entities in meeting each requirement. The PCI DSS itself is not a law or regulation, and...
EU-US Privacy Shield: European Union and U.S. Reach Agreement in Principle for New Data Transfer Framework – But Uncertainty Remains
Posted on Feb 11, 2016 in Energy and Infrastructure, Financial Services, Insurance | Comments Off on EU-US Privacy Shield: European Union and U.S. Reach Agreement in Principle for New Data Transfer Framework – But Uncertainty Remains
On February 2, 2016, the European Commission (EC) and the U.S. Department of Commerce (Commerce) announced that they had reached agreement on a new data transfer safe harbor arrangement for the transfer of personal data from Europe to the U.S. The new safe harbor pact, called the EU-US Privacy Shield, was negotiated in the wake of the EU Court of Justice’s (CJEU) decision in October...
SEC Moves to Update Transfer Agent Rules; New Rules Likely to Impact Unclaimed Property and Cybersecurity
Posted on Jan 6, 2016 in Uncategorized | Comments Off on SEC Moves to Update Transfer Agent Rules; New Rules Likely to Impact Unclaimed Property and Cybersecurity
On December 22, 2015, the Securities and Exchange Commission took the first step in overhauling SEC regulation of transfer agents, the little-discussed but critical intermediaries involved in the prompt clearance and settlement of almost all U.S. securities. After many years in which other types of financial market intermediaries took center stage on the SEC’s rulemaking agenda, the...
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