Tag Archives: Data Protection

Stock Connect Northbound Investor ID Model set to launch on 17 September 2018

Late last month, the Securities and Futures Commission (SFC) announced that agreement had been reached with the China Securities Regulatory Commission (CSRC) to implement the investor identification model for Stock Connect Northbound trading (NB Investor ID Model) on 17 September … Continue reading

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Filed under Announcements, Asia, Banking, China, Hong Kong, Regulatory Reform, Sector Updates by Herbert Smith Freehills

EU General Data Protection Regulation: Practical Steps for Employers

The General Data Protection Regulation ("GDPR") aims to harmonise data protection procedures and enforcement across the European Union. It will apply to all EEA countries and the companies that conduct business in them from 25 May 2018. New standards for … Continue reading

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Filed under EU

Financial firms: protecting customer personal data

A recent case provides a rare example of the criminal prosecution of an individual (in this case the former employee of an insurer) for breach of the Data Protection Act 1988 (DPA).  David Barlow Lewis was a former employee of … Continue reading

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Filed under Europe, European Regulation, FSA, FSA Rules, Insurance, Sector Updates by Herbert Smith Freehills, UK, UK Legislation, UK Regulations, Uncategorized

Finding a data compromise: what the EU Data Protection Regulation compromise says

After almost four years of debate, the European Commission, Parliament and Council finally reached political agreement on the proposed General Data Protection Regulation (the "GDPR") in December 2015.

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Filed under Asset management, Banking, Estonia, European Regulation, France, Germany, Insurance, Investment Funds, Italy, Liechtenstein, Spain

EU reaches agreement on the General Data Protection Regulation

After almost four years of debate, the European Commission, Parliament and Council have finally reached political agreement on the proposed General Data Protection Regulation (the "GDPR"). The final text of the GDPR will now need to be formally approved by … Continue reading

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Filed under EU, France, Germany, Italy, Spain, UK

Amendments to the PRC Criminal Law passed to strengthen anti-corruption and data privacy enforcement

On 29 August 2015, the National People’s Congress enacted the Ninth Amendments to the PRC Criminal Law. The enactment followed two rounds of public consultation, for which draft amendments were released in November 2014 and July 2015. The amendments will … Continue reading

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Filed under Asia, Bribery and Corruption, China, Corporate Crime

One small step for Europe; one giant leap for data protection?

In June 2015, the Council of Ministers of the European Union finally agreed a general approach on the proposed EU General Data Protection Regulation, paving the way for negotiations to commence between the European institutions to agree a final version … Continue reading

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Filed under Europe, European Regulation, UK

Hong Kong regulators issue guidance for the protection of customer data in the financial services industry

The Office of the Privacy Commissioner for Personal Data (the PCPD) and the Hong Kong Monetary Authority (the HKMA) have recently published guidance notes regarding the obligations of financial institutions and, in the case of the HKMA, Authorised Institutions, to … Continue reading

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Filed under Asia, Hong Kong

Verifying changes to customer data, particularly when supplied by third parties

For firms that use data matching processes, a recent data protection case suggests that firms may wish to consider the robustness of precautionary verification processes in relation to changes to customer data, particularly in respect of changes communicated by telephone, and/or by … Continue reading

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Filed under Asset management, Funds, Insurance, Investment Funds, Retail Banks, UK