Home » Regulatory Framework

Regulatory Framework

China Cybersecurity and Data Protection Laws: Changes to Become Effective June 1, 2017

China’s new Cybersecurity Law will become effective on June 1, 2017. In addition to focusing on cybersecurity, the law also details how companies are to handle personal information and data. In determining what is allowed and not allowed for handling personal information in China, it is important to examine The Decision on Strengthening Information Protection on Networks (2012), The Guidelines ... Read More »

BIIA Chairman David Worlock writes about “The Brexit Upside”

David Worlock is Chairman of BIIA and thus we follow closely his blogs.  With Brexit underway we found his recent discussion concerning Copy Right and Data Protection and Privacy in a post Brexit regulatory scenario highly relevant.  Here is what David Worlock wrote: “With friends and colleagues in the industry I have been looking at formulating a debate to be ... Read More »

BIIA at the Inter-American Development Bank (IDB) Washington Conference

BIIA attended a recent meeting organized by the IDB – Inter-American Development Bank on “Credit Reporting in the Americas: The current state of the industry and its regulations”.   At the IDB conference Neil Munroe, president of ACCIS and BIIA’s deputy managing director, provided an overview of the EU’s regulatory approaches to innovation.  Neil Munroe covered the following topics: EU policy ... Read More »

Australian Privacy Actions: ABR Gazette Change, February 2017

The ABR Gazette is a subscription-only commercial information service, collating public record information on companies and individuals such as insolvency, bankruptcy and court data relating to debt. The cover of the ABR Gazette includes the terms and conditions of use, restricting it to the assessment of credit risk Veda has agreed to amend the ABR Gazette in the next three ... Read More »

Forrester Research Introduces Forrester’s 2016 Interactive Data Privacy Heat Map

To help security and risk professionals navigate the complex landscape of privacy laws around the world, Forrester created a data privacy heat map that highlights the data protection guidelines and practices for 54 different countries. It also covers other relevant issues like government surveillance, cross-border data transfers, and regulatory enforcement.  Due to the dynamic nature of data protection legislation, we ... Read More »

Contribution of Advanced Credit Reporting System to Financial Inclusion and Financial Stability

According to an age old maxim credit and credit reporting are intertwined.  Economic growth is reliant on a well-functioning credit system providing access to credit to individuals and businesses.  Access to credit however hinges on the availability of accurate, reliable and timely information.  Without such information there will be no economic growth. Ömer Kayhan Seyhun, Senior Specialist at the Central ... Read More »

China’s New Promises and Measures to Enhance IP Protection

At the end of November 2016, China issued a high-profile policy statement on protection of property rights (http://www.gov.cn/zhengce/2016-11/27/content_5138533.htm) in the joint name of the all-powerful Central Committee of the Communist Party of China (“CCCPC”, which is the actually ruling body of China under the leadership of the Politburo) and the State Council (the cabinet). The statement includes a section devoted ... Read More »

Forrester Research Brief: You Need an Action Plan for The GDPR

The General Data Protection Regulation Will Change The Way You Do Business in the EU.  Forrester Report by Enza Iannopollo published October 14, 2016 The EU General Data Protection Regulation (GDPR) will go into force on May 25, 2018. Every organization — regardless of its location — doing business with EU customers will need to make changes to its oversight, ... Read More »

Indian Credit Bureaus Lobby RBI to Mandate Greater Information Sharing

Ahead of the launch of payments banks, Indian credit bureaus (CICs) have urged the Reserve Bank of India (RBI) to ensure these new entrants in the banking space become members of credit bureaus and share data on performance of transactions. “Payments banks will not be into lending, but the transactions which they undertake will help understand borrowers. Therefore, we have ... Read More »

China Toughens Control of P2P Lending with new Regulations

China issued a regulation on this week to toughen its control of peer-to-peer lending companies, thus cracking down on illegal fundraising activities through such platforms and preventing financial risks. Jointly issued by the China Banking Regulatory Commission (CBRC) and three other ministries, the regulation emphasizes the role of P2P lending companies as financial information service intermediaries providing assessment and exchange ... Read More »

Blockchain: US Senators Seek Guidance from Consumer Financial Protection Bureau (CFPB) and Federal Reserve

Twenty-two US senators have sent a letter to senior government officials and the Federal Reserve requesting information about the regulation and oversight of virtual currencies and blockchain tech. In the letter dated 21st July, the US Senate Committee on Banking, Housing and Urban Affairs wrote that it is seeking to “better understand the way US regulators oversee FinTech and their relationships with federally ... Read More »