Global Banking & Finance Review
Over two years ago, in January 2012, the European Parliament published a proposal for an EU Regulation on Data Protection (the Regulation) to replace the current European Data Protection Directive. Whilst the Regulation raises significant issues for all industries, the financial services sector has been particularly concerned given the billions of financial records and transitions handled yearly. Due to its potential impact, the proposed Regulation has been one of the most lobbied pieces of European legislation in European Union history. According to reports, the European Parliament’s Civil Liberties Committee, which has been negotiating the Regulation, has received over 4,000 amendments.
CIO Today UK
The European Commission wishes to ensure a competitive and growing share of the global digital economy. It is, therefore, working on a number of key proposals that will directly impact CIOs and information security departments throughout this current digital decade.
Data Protection Law & Policy
“Data is the new oil” – This statement by Neelie Kroes in 2011 has since been on everyone’s mind and with the constant development of new technologies, the importance of data has grown dramatically over the past few years and in recognition of this it seems that we have now entered into a new era: the era of Big Data. William Long and Geraldine Scali, Partner and Associate respectively at Sidley Austin LLP explore the potential data protection issues that may arise.
Scrip Regulatory Affairs
The EU Data Protection Regulation proposed by the European Commission in January will – if adopted in its current form – require pharmaceutical and medical device companies to adopt a new approach to data processing and data protection.
This article was published in the March 2012 issue of Scrip Regulatory Affairs.
BNA’s Privacy & Security Law Report
Following meetings held Feb. 24-25, the Council of the European Union released its ‘‘Conclusions’’ in response to the EU Commission’s Nov. 4, 2010 ‘‘Communication’’ proposing ‘‘a comprehensive approach on personal data protection in the European Union.’’ The Council is the main decision-making body of the European Union, comprising the ministers of the Member States. Depending on the issue on the agenda, each country is represented by the minister responsible for that subject (foreign affairs, finance, social affairs, transport, agriculture, etc.).