Category

Financial Privacy

30 October 2020

Big Data: Legal and Compliance Considerations for Investment Managers

Sidley Partners Nathan J. Greene and Colleen Theresa Brown are co-authors of a new chapter of the PLI treatise Investment Adviser Regulation: A Step-by-Step Guide to Compliance and the Law focusing on legal and compliance considerations for use of Big Data.  The chapter examines the expanding range of topics facing … Read More

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09 October 2020

Changes in Chinese Securities Law and Draft Data Security Law Affect Cross-Border Investigations

Recent changes to Chinese law have broad implications on cross-border data transfer in the course of investigations conducted by non-Chinese regulators. Clients work closely with counsel to navigate potential legal landmines in any defense of an investigation involving data from China.

Just over six months ago, on March 24, 2020, … Read More

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25 September 2020

The Swiss Parliament Agrees on the Draft Bill of a New Data Protection Act

After three years of discussions and in a final debate, the Swiss parliament has agreed on the final draft bill of a new and modernized data protection law.

In particular, the National Council and the Council of States found a compromise on the these outstanding issues:

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12 June 2020

The U.S. Office of the Comptroller of the Currency Seeks Comment on Digital Innovation by Banks

The U.S. Office of the Comptroller of the Currency (OCC) has issued an Advance Notice of Proposed Rulemaking (ANPR)1 seeking input on how best to accommodate new technology and innovation in the business of banking, in connection with the OCC’s “comprehensive review” of its regulations at 12 C.F.R. part … Read More

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21 May 2020

FinCEN Issues Notice on Reporting COVID-19 Criminal and Suspicious Activities, Companion Advisory on COVID-19-Related Medical Scams

On May 18, 2020, the Financial Crimes Enforcement Network (FinCEN), as part of its COVID-19-related response, issued a Notice Related to the Coronavirus Disease 2019 (COVID-19) reminding financial institutions of certain Bank Secrecy Act (BSA) obligations and pertinent information regarding reporting COVID-19-related criminal and suspicious activity (the Notice). Contemporaneously, FinCEN … Read More

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21 April 2020

U.S. Warns of Threat to Financial Industry Posed by North Korean Cyberattacks

The U.S. Departments of State, the Treasury and Homeland Security and the Federal Bureau of Investigation issued a joint advisory (the Advisory) on April 15, 2020, discussing the threat to the international community posed by cyberattacks linked to the Democratic People’s Republic of Korea (North Korea), in particular highlighting concerns … Read More

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30 March 2020

Chambers 2020 Global Practice Guides for Data Protection & Privacy and Cybersecurity Available

The updated 2020 Chambers Global Practice Guides for Data Protection & Privacy and Cybersecurity, edited by Alan Charles Raul, are available, covering important developments across the globe and bringing expert legal commentary for businesses.  Read the intros to each Guide here and here.

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23 March 2020

U.S. Office of the Comptroller of the Currency Updates Third-Party Relationships Risk Management Guidance

On March 5, 2020, the Office of the Comptroller of the Currency (OCC) issued an updated set of answers to frequently asked questions (FAQs)1 regarding risk management in national bank relationships with third parties to further supplement its 2013 guidance, OCC Bulletin 2013-29 (the Bulletin),2 and its 2017 … Read More

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20 February 2020

SEC and FINRA Issue 2020 Examination Priorities for Broker-Dealers and Investment Advisers

The U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) and the Financial Industry Regulatory Authority (FINRA) recently published their examination priorities (together, the Examination Priorities) for the 2020 calendar year.1 In general, the 2020 Examination Priorities continue recurring themes from recent prior years.

OCIE’s

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24 January 2020

SEC and FINRA Issue 2020 Examination Priorities (Including Cybersecurity) for Broker-Dealers and Investment Advisers

The U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) and the Financial Industry Regulatory Authority (FINRA) recently published their examination priorities (together, the Examination Priorities) for the 2020 calendar year.1 In general, the 2020 Examination Priorities continue recurring themes from recent prior years.

OCIE’s … Read More

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