Financial market regulators from outside the EU are now seeking GDPR exemptions for the purpose of "public interest", for example cracking down on securities fraud, including the SEC in the U.S. as well as regulators in Japan and Hong Kong.
Data Protection
Certain types of personal data are very valuable to criminals, and can be very damaging to an individual or business if it falls into the wrong hands. As the world becomes more digital and more connected, more of this sort of data is generated and passed between various sources on a regular basis.
Government regulations and supervisory authorities aren’t just about keeping irresponsible parties in line. They also provide vital security guidance to every type of organization that handles sensitive personal, business or government information.
Data protection regulations also ensure that the end user has a transparent view of and a say in the processing of personal data. These safeguards play a significant role in everything from the preservation of civil rights to ensuring that democratic institutions function properly.
Some types of personal data are clear candidates for regulation: medical records, banking information, national ID numbers and so on. But some of these regulations also cover items that might seem relatively innocuous at first glance: home addresses, email addresses, website profile information and so on. For example, the European Union General Data Protection Regulation (GDPR) has stipulations about anything that is unique to an individual to include phone numbers and social media accounts. People have varying levels of privacy preference with these items, but they are often protected by regulation because they can be used for targeted scams and attempts at identity theft.
Given that regulations often take the size and customer count of businesses into consideration in terms of penalties and the scope of protection of personal data, compliance is particularly important for enterprise-scale organizations. You do not necessarily have to have an active business presence in a country or region; simply storing data on or moving it through servers there may subject you to their data protection rules.
Privacy should be a top-of-mind issue as new privacy regulations keep appearing globally. However, recent report shows organizations are still unprepared to deal with them effectively.
AI regulation and risk governance have evolved from niche concerns to board-level priorities in under three years. Organizations that succeed will be those that treat AI not only as an opportunity, but as a domain requiring disciplined legal, operational, and contractual stewardship.
The US tech companies oppose what they call an "undue expansion of government access," but also a requirement that they seek permission before being allowed to send local data overseas. The proposed data protection law also has vague and expansive terms here.
Germany set a new precedent with an antitrust ruling against Facebook, forcing the company to make major changes to their data collection practices – German users are to be given a greater degree of notice and choice in how their data is used.
Employers must familiarise themselves with India's new Digital Personal Data Protection Act, and assess its implications for employee data. With compliance likely to require significant administrative and technical overhauls within organizations, it is prudent to begin readiness evaluations early.
In the wake of the Schrems II decision, organizations performing EU-US data transfers are faced with significant challenges to comply with the GDPR.
Facebook has come up with a clever workaround that takes advantage of Brexit; it's simply going to move local users to California to evade EU privacy rules.
Fine imposed by the Norwegian data protection authority in August could be expanded to the entirety of the EU, subjecting Meta to extensive daily penalties until it makes big changes to tracking ads. Decision could potentially spark an EU ban.
Virginia is the latest state to adopt a consumer privacy law, with the Virginia Consumer Data Protection Act (CDPA) signed by the governor in early March. The bill adopts some of the terms seen in the CPRA.









