On 13 April 2021, the European Data Protection Board (EDPB) adopted two Opinions on the draft UK adequacy decisions: (i) Opinion 14/2021 for transfers of personal data under the EU General Data Protection Regulation (EU GDPR); and (ii) Opinion 15/2021 for transfers of personal data under the Law Enforcement Directive (LED).
With the roll-out of the COVID-19 vaccine and the start of easing of social distancing measures, the latest initiative being considered at a national as well as an international level is the introduction of so-called “digital health passports” or “immunity passports,” i.e., a tool to record and share the immune status of an individual whether by virtue of a COVID-19 test result or vaccination record – indeed, it is estimated there are currently more than 70 digital health passports and 14 vaccine passport apps in operation globally. However, the privacy concerns (and indeed the broader ethical implications) of introducing such measures, without the implementation of appropriate safeguards are significant and a current topic of intense debate.
On March 29, 2021, the U.S. Securities and Exchange Commission (SEC) Division of Examinations (EXAMS) issued a risk alert to remind broker-dealers of their obligations related to anti-money-laundering (AML) rules and regulations as well as to provide the staff’s observations of compliance items related to those obligations. The risk alert also is designed to assist broker-dealers with reviewing and enhancing their AML programs. The staff noted that mutual funds may benefit from the examination observations.
This is the latest EXAMS announcement of its expansion deeper into AML issues. This expansion further demonstrates that broker-dealers need to be prepared to address questions and concerns from both the SEC and the Financial Industry Regulatory Authority (FINRA) in a coordinated and efficient matter even if these overlap.
On March 17, 2021, California officials announced the appointment of five board members of the California Privacy Protection Agency ( the “CPPA”), the first data protection agency in the United States. The CPPA, created by the California Privacy Rights Act (“CPRA”) which California voters approved in November 2020, is charged with promulgating the CPRA regulations; enforcing the CCPA and CPRA; and educating consumers about their privacy rights.
The updated 2021 Chambers Global Practice Guides for Data Protection & Privacy and Cybersecurity, edited by Alan Charles Raul, are available now, covering important developments across the globe and offer insightful legal commentary for businesses. Read the introductions to each Guide here and here.
On 5 March 2021, the Federal Data Protection and Information Commissioner (FDPIC) published a short position paper on the revised Swiss Data Protection Act (revDPA). The position paper provides guidance for companies that are subject to the revDPA as to how to meet its requirements once it enters into force, which is expected to be in the second half of 2022 after the Federal Administration has completed drafting the associated implementing ordinances.
On February 10, 2021, the Council of the European Union (which includes representatives of the European Union (EU) member states, hereinafter Council) reached an agreement on the ePrivacy Regulation proposal that governs the protection of privacy and confidentiality of electronic communications services (ePrivacy Regulation).
The first draft of the ePrivacy Regulation was approved by the European Commission in 2017 and has since been under discussion in the Council. The current agreement in the Council comes shortly after Portugal took over the Council presidency (on January 1, 2021) and released a revised draft of the ePrivacy Regulation (on January 5), which was the 14th draft including the original EU Commission proposal. The present agreement is therefore a breakthrough in the negotiation process and allows the Portuguese Council presidency to start negotiations with the European Parliament on the final text.
Tomoki Ishiara
Tokyo
tishiara@sidley.com
Richard D. Klingler
Washington, D.C.
rklingler@sidley.com
Linh Lieu
Hong Kong
linh.lieu@sidley.com
William RM Long
London
wlong@sidley.com
Sujit M. Raman
Washington, D.C.
sujit.raman@sidley.com
Alan Charles Raul
Washington, D.C.
araul@sidley.com
Yuet Ming Tham
Hong Kong
Singapore
yuetming.tham@sidley.com
John K. Van De Weert
Washington, D.C.
jvandeweert@sidley.com
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