The EU Digital Markets Act (DMA) is set to revolutionize the way in which so-called ‘Big Tech’ is regulated in the EU, shifting toward ex-ante rulemaking and away from traditional after-the-fact enforcement. The DMA imposes a stringent regulatory regime on large online platforms (so-called “gatekeepers”) and gives the European Commission (Commission) new enforcement powers, including an ability to impose severe fines and remedies for noncompliance.
On 17 January 2023, the new Network and Information Systems Security Directive (“NIS2 Directive”), which is aimed at establishing a minimum level of cybersecurity standards across the EU and is set to replace its predecessor (the NIS or “NIS1 Directive”), entered into force. The new NIS2 Directive aims to further harmonize and strengthen cybersecurity and resilience throughout the EU in response to a continued increase in digitization and rise in cyber (and in particular ransomware) threats – which is estimated to have reached a total cost of €5.5 trillion at the end of 2020 (double the figure of 2015) and continues to rise in the EU and globally notably due to ongoing geopolitical conflicts in Ukraine and Russia. (more…)
The ninth edition of The Privacy, Data Protection and Cybersecurity Law Review provides a global overview of the legal and regulatory regimes governing data privacy and security, and covers areas such as data processors’ obligations, data subject rights, data transfers and localization, best practices for minimizing cyber risk, public and private enforcement, and an outlook for future developments. Several lawyers from Sidley’s global Privacy and Cybersecurity practice have contributed to this publication. See the chapters below for a closer look at this developing area of law.
On 15 September 2022, the European Commission (“Commission” or “EC”) published a draft proposal for a Cyber Resilience Act (“CRA” ). The CRA comes in response to the increasingly common occurrence of cyberattacks, with some predicting that the global cost of cyberattacks for companies will reach $10.5 trillion annually by 2025, up from $3 trillion in 2015. The CRA promises to transform the European cybersecurity landscape by harmonizing and bolstering cybersecurity rules across all technologies with “digital elements.” The Commission is currently inviting public feedback on the CRA through 18 November 2022. The CRA will then pass through the European Parliament for debate and for amendments to be proposed.
*This article first appeared on Law360 on October 14, 2022
A series of coordinated announcements on Oct. 7 lifted the veil on a new trans-Atlantic data transfer mechanism.
This announcement has been hotly anticipated since a joint declaration from the U.S. and European Union governments on March 25, that there was an agreement in principle for a new EU-U.S. Data Privacy Framework.
The key document in the framework process is Executive Order No. 14086 on enhancing safeguards for U.S. signals intelligence activities, accompanied by a detailed fact sheet on the executive order.
On 7 September 2022, the Information Commissioner’s Office (“ICO”) published draft guidance (“Guidance”) on privacy-enhancing technologies (“PETs”). It is hoped that the Guidance will help organizations have the confidence to utilize PETs to develop innovative applications without compromising on privacy concerns, or trust. The Guidance is divided into two sections: (i) how can PETs help with data protection compliance; and (ii) what are PETs. We consider the key learning points from the Guidance below. (more…)
As the year approaches its halfway point, Chinese government accelerates the legislation for cross-border data transfers. (more…)
Last week, the UK Competition and Markets Authority (CMA) hosted its inaugural Data, Technology, and Analytics (DaTA) Conference.
The CMA DaTa Conference has been hailed as a milestone as it convened for the first time regulators, data scientists, engineers, tech companies, and academics to discuss evolving challenges in digital markets. The conference coincided with London Tech Week, during which Chris Philp, UK Minister for Tech and the Digital Economy, unveiled a new UK Digital Strategy: the UK government’s vision for regulating digital markets, involving a monitoring framework and outcomes-focused regulation. The government has opened a public consultation, and stakeholders have until September 5, 2022, to offer their views on the proposed approach.
Against this background, here is our selection of the top five trends that stood out over the course of the CMA DaTa Conference. (more…)
Hattie Davison, UK Government, Department for Digital, Culture, Media and Sport, Head of Data Reform Policy (more…)
Certification by a professional institution is one of the mechanisms permitted under China’s Personal Information Protection Law (PIPL) to legitimize cross-border transfers of personal information. Other permitted mechanisms include governmental security review and standard contractual clauses to be issued by the Chinese government. However, to date, there have been no clear rules on the criteria and procedures for obtaining the PIPL certification. (more…)