On 23 January 2019, the EU Commission adopted a decision confirming the adequacy of Japanese data protection laws for the purpose of transferring personal data from the EU to Japan in compliance with the international data transfer restrictions set out in Chapter V of the GDPR. Continue reading
Tag: EU Commission
The EU Commission has published a news release on the EU Blockchain’s Industry Roundtable held on 20 November 2018. The roundtable was an important step towards creating a European community to support the deployment of blockchain in the European Union. The EU Commission welcomed the announcement of the establishment of the “International Association for Trusted Blockchain Applications” by several participants that will be based in Europe and open to any organisation willing to work on the deployment of blockchain and distributed ledger technologies to transform digital services.
The proliferation of Fintech comes at a time when international regulators are significantly increasing their oversight of the financial services sector. As such, the most appropriate way to approach Fintech continues to preoccupy international and regional standard setters. Whilst recent headlines over the past few months might suggest that regulators’ main focus is on virtual currencies, over the course of 2017 a number of key international standard setters released papers focussing more widely on Fintech – including the Financial Stability Board (“FSB“), the Basel Committee on Banking Supervision (“BCBS“) and the EU Commission. Typically, initiatives set out by the FSB and BCBS filter down to inform policies developed at the regional and national levels in due course.
Last month the EU Commission published its final report in the e-commerce sector inquiry launched in May 2015 as part of a wider Digital Market Strategy which aims to achieve better access for consumers and businesses to online goods and services across the EU. The aim of the sector inquiry was to examine prevailing market trends in the e-commerce sector and identify potential barriers to competition in e-commerce markets. Continue reading