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UK US Data Bridge Practical Tips for Implementation and Compliance

Latham & Watkins and Privacy Laws & Business recently co-hosted a webinar looking back on the first eight months since the UK-US Data Bridge entered into force. Speakers from the UK Information Commissioner’s Office (ICO) and...more

UK Online Safety Act 2023

The Online Safety Act (the OSA) received Royal Assent on 26 October 2023 and is now in force. The OSA establishes an extensive regulatory framework for providers of online user-to-user services and search services with...more

UK Regulators Publish New CTP Regulatory Framework Proposal

Critical Third Parties serving the UK financial sector must ready themselves for compliance with the newly proposed operational resilience requirements. On 7 December 2023, the PRA, FCA, and BoE jointly published a...more

AI in UK Financial Services - What’s on the Horizon?

As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations. As financial services firms digest FS2/23, the joint Feedback Statement on Artificial...more

FCA Board Focuses on AI

A new publication from the UK’s financial regulator signals to firms that they should take steps to manage risks in the use of AI. The UK’s Financial Conduct Authority (FCA) has published its latest board minutes...more

FCA Consults on Revamped Guidance for Financial Promotions on Social Media

Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media. On 17 July 2023, the FCA published a guidance consultation (GC23/2)...more

UK Data Protection and Digital Information (No. 2) Bill: What Is Changing?

The updated reform legislation provides welcome guidance and clarifications on aspects such as legitimate interests and accountability, without substantially shifting the approach proposed under the existing reform bill. ...more

Privacy Enhancing Technologies - A Panacea for Data Protection Compliance?

The Information Commissioner’s Office published draft guidance on privacy enhancing technologies that can be used to comply with privacy-by-design requirements. On 7 September 2022, the Information Commissioner’s Office...more

UK Data Protection Bill: Examination of Key Provisions (Part 2)

Areas of interest include anonymisation, “recognised legitimate interests”, and the ICO’s role. The UK Data Protection and Digital Information Bill (the Bill) sets out the government’s proposals for reforming the current...more

UK Data Protection Bill: Overview of Proposed Changes (Part 1)

The bill would largely build on the UK data protection regime’s EU GDPR-style framework, albeit with UK-specific provisions. The UK government introduced the Data Protection and Digital Information Bill (the Bill) to...more

UK Data Protection Reform: Examining the Road Ahead

UK government sets out ambitious proposal for reforming the UK data protection landscape. On 17 June 2022, the Department for Culture, Media and Sport (DCMS) published its response to its consultation “Data: a new...more

New Standard Contractual Clauses and Final EDPB Recommendations - Next Steps

Companies have three months to prepare to use the latest standard contractual clauses for new data transfers, and 18 months to migrate existing arrangements. On 4 June 2021, the European Commission released its...more

Data Protection Brexit Checklist: Businesses Can Rely on Personal Data Transfer Grace Period

As the Brexit transition period draws to a close, businesses will need to consider their data protection efforts to comply with both UK and EU regimes. The end of the Brexit transition period on 31 December 2020 will have...more

The Commission’s Draft Updated Standard Contractual Clauses - A Close Look

The European Commission has published draft updated standard contractual clauses in light of the Schrems II decision. On 12 November 2020, the European Commission (the Commission) published a draft implementing decision,...more

UK Firms Should Share Customer Information Cross-Border Intra-Group to Fight Money Laundering and Terrorist Financing

UK government encourages regulated firms to share customer information within corporate groups, highlighting interaction with firms’ obligations under the Proceeds of Crime Act 2002 and GDPR. The UK government has...more

Regulator Raises Concerns Over Alternative Data

The FCA is considering whether alternative data could introduce new risks to market integrity. The FCA’s recently published Insight article explores how alternative data might give rise to market abuse risks. The article...more

Report on IT Failures in the UK Financial Services Sector

UK Treasury Committee report warns that the current level and frequency of disruption and consumer harm is unacceptable. On 28 October 2019, the Treasury Committee published a report on IT failures in the financial...more

Big-Ticket Fines and Veil-Piercing Cases Raise Portfolio Company Liability Risks for PE Parents

How can private equity firms identify and mitigate inherited liability risk from vulnerable portfolio companies? Ongoing big ticket regulatory fines coupled with high profile corporate veil cases indicate that private...more

Post-Brexit Implications for NIS Representative Requirements

UK confirms reciprocal requirements for digital services providers to appoint UK representatives for NIS purposes, following Brexit. Following a consultation process, the UK government has now confirmed that it will put...more

UK’s ICO Publishes New Guidance on Cookies

The guidance clarifies the interplay between the PECR and GDPR and provides practical steps to achieving cookie compliance. The UK’s data protection supervisory authority, the Information Commissioner’s Office (ICO),...more

UK Regulator Imposes Two Substantial Fines for GDPR Data Breaches

The ICO issued notices of intent to fine British Airways and Marriott. What happened? On 8 July 2019, the UK Information Commissioner’s Office (ICO) announced a notice of intent to fine British Airways £183.39 million (about...more

ICO Launches Consultation on Age-Appropriate Design: A Code of Practice for ISS

Online services have until 31 May to respond to 16 draft standards of age-appropriate design. The ICO is required by s123 of the Data Protection Act 2018 to prepare a code of practice which contains guidance on standards...more

No Deal Brexit and Data Transfers: Companies Must Prepare Now

Companies should identify data flows, implement a data transfer solution, and update internal documents and privacy notices. Since our blog on “What a “No Deal” Brexit Means for UK Data Privacy”, the European Data...more

What EBA’s Outsourcing Guidelines Mean for Financial Institutions

The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. On 25 February 2019, the European Banking Authority (EBA)...more

DIFC Issues New Direct Marketing and Electronic Communications Guidelines

The DIFC guidelines provide practical guidance for DIFC-registered entities engaging in electronic direct marketing, including useful “dos” and “don’ts”. What Do DIFC-Registered Entities Need to Know? In January 2019,...more

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