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After Prism: The transatlantic implications of the new EU Data Protection Regulation
Archive
24 Oct
2013

An update on the EU Data Protection Regulations

By Bird & Bird LLP This is an update from Bird & Bird on the progress of the EU Data Protection Regulation.  The original document can be found here: EU Data Protection Regulation: one step forward After months of discussion, the LIBE Committee of the European Parliament voted on compromise amendments to the draft, General Data Read More

18 Oct
2013

KYC: The logistics of building a reliable shared data utility

A variety of technology providers, consultancies and data providers (more than 10 of them at the last count) have announced (or have been rumoured to have formed) partnerships of some form in order to create new utilities that can share data between banks. With the huge and increasing number of regulatory requirements for customer data, Read More

10 Oct
2013

KYC utilities: ‘New’ concepts ready to mature quickly?

  • 10th October 2013
  • RegTechFS

2013 has been a busy year for KYC professionals as they respond to a number of different regulatory requirements. Regulatory demands have raised the bar on not only existing data requirements but also have introduced a number of new ones. In response to this, there are now many different conversations going on in parallel about Read More

09 Jul
2013

Early warning signs: Data protection barriers ahead

Is data protection soon to become the biggest compliance hurdle facing the back office? In an effort to improve the protection offered to consumers, and to harmonise data practices, the EU is currently in the process of passing two pieces of legislation: the Cybercrime Directive and the General Data Protection Regulation (GDPR). Few people have Read More

09 Jul
2013

Risk data: Can it be both efficient and compliant?

Risk regulation is a cluster bomb – multiple devices with multiple impacts – but applying uniform risk data principles can save costs in 2013-16 With six months before the 4th Capital Requirements Directive comes into force, many will be asking what technological improvements will be necessary to efficiently manage risk going forward. Before they embark Read More

28 Jun
2013

Early warning: Data protection barriers ahead

  • 28th June 2013
  • RegTechFS

In an effort to improve the protection provided to consumers, and to harmonise data practices, the EU is currently in the process of passing two pieces of legislation: the Cybercrime Directive and the General Data Protection Regulation (GDPR).  Few people have given much thought to how these will align with international financial regulation but, if Read More

10 May
2013

The big bang: What happens when risk and data collide?

The face-off between risk and data is coming.  Lack of co-ordination, both between the regulators setting the rules and within the firms implementing them, is on course to result in a messy collision when the two sets of requirements meet. Commonly, the extent of the damage done by the financial crisis has been blamed on Read More

25 Feb
2013

Outsourcing: increasingly risky business?

More stringent restrictions on outsourcing arrangements affecting all suppliers could lead to increased costs across the board for financial services firms. Since the 1980s, outsourcing has been a way to leverage global wage imbalances to lower the cost/income ratios of the banking industry. The rules of the game changed in 2007, with MiFID controlling how Read More

25 Feb
2013

Data protection: the next Y2K?

Conflicting demands of European data privacy and US intelligence gathering legislation are coming together to make the issue a serious problem for banking technologists. Transatlantic friction over data protection isn’t exactly a new problem – the industry has been faced with pending regulations from the US and EU for over a decade.   Until recently Read More