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
7/12/2019
/ British Airways ,
Corporate Fines ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
Marriott ,
Popular ,
UK
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
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
3/20/2019
/ Article 50 Treaty of the EU ,
CNIL ,
Data Privacy ,
Data Protection ,
DIFC ,
EU ,
European Data Protection Board (EDPB) ,
European Economic Area (EEA) ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
International Data Transfers ,
Ireland ,
Member State ,
No-Deal Brexit ,
UK ,
UK Brexit ,
Withdrawal Agreement
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
3/19/2019
/ Cloud Service Providers (CSPs) ,
Cloud Storage ,
Commission Delegated Regulation ,
EU Directive ,
European Banking Authority (EBA) ,
Financial Institutions ,
FinTech ,
Information Reports ,
MiFID II ,
Outsourcing ,
Payment Systems ,
UK
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
2/4/2019
/ DIFC ,
Direct Marketing ,
Dubai ,
Electronic Communications ,
EU ,
EU Data Protection Laws ,
General Data Protection Regulation (GDPR) ,
New Guidance ,
UK ,
UK Data Protection Act ,
United Arab Emirates (UAE)
Technology outsourcing by financial institutions (FIs) has increased in recent years as FIs look to the latest innovations to improve their day-to-day business processes and to reduce costs. FIs outsource key functions to a...more
The EBA’s draft guidelines on outsourcing will impact cloud outsourcing and institutions’ deployment of FinTech.
On 4 September 2018, a wide audience of interested individuals gathered at Canary Wharf for a public hearing...more
9/14/2018
/ Capital Requirements Regulation (CRR) ,
Cloud Computing ,
Consultation ,
CRD IV Directive ,
EU ,
European Banking Authority (EBA) ,
FinTech ,
MiFID II ,
Outsourcing ,
Popular ,
PSD2 ,
UK ,
UK Brexit
FCA Chair hints that new regulation addressing data ethics in the FinTech space may be on the horizon.
Will societies of the future be ruled by algocracy, in which algorithms decide how humans are governed? ...more
The UK agency’s principles-based guidance on cybersecurity for OES adds important detail to NIS Directive obligations.
The National Cyber Security Centre (NCSC) has published introductory guidance for operators of...more
Proposed changes provide indication of the yet-to-be-published contents of the NIS Directive’s implementing regulation.
The UK government moved closer to implementing the Security of Network and Information Systems...more
The FCA has published a Feedback Statement on Distributed Ledger Technology, setting out its views and proposed next steps.
Key Points:
..Respondents to the FCA’s initial Discussion Paper were supportive of the FCA...more
Regulatory sandboxes are becoming a global trend, providing plenty of opportunities for innovative businesses.
Pioneered in the UK as part of the Financial Conduct Authority’s (FCA) “Project Innovate”, a regulatory sandbox...more
The Bank of England (BoE) announced on 19 July 2017 that it is extending direct access to its real-time gross settlement (RTGS) service to non-bank payment service providers (i.e., e-money institutions and payment service...more
The Financial Conduct Authority (FCA) has provided an update on its regulatory sandbox initiative. The sandbox is part of Project Innovate, and allows businesses (whether already authorised or not) to test new offerings in...more
RTGS service to be interoperable with distributed ledger technology, to allow greater access and to provide sophisticated data interface for liquidity management.
There is an important opportunity for early-stage...more
UK regulator calls for submissions on potential uses, risks and benefits of distributed ledger technology in the financial services sector.
The Financial Conduct Authority (FCA) published a Discussion Paper (DP17/3) on...more
Innovative businesses in the financial services industry looking to test exciting new financial products and services will be able to apply to the UK’s regulatory sandbox beginning May 9.
The “regulatory sandbox” is the...more