Happy New Year to all our readers.
Welcome to the 68th monthly newsletter designed to keep BIIA members informed of the significant developments on the policy dossiers being worked on in geographical territories that members operate in. To download the document please click on this link: BIIA Monthly Regulatory Newsletter 300123
The start of any New Year is usually a time to reflect on the last year and think about what lies ahead for the coming one. So we thought we would use the start of this first regulatory newsletter of 2023 to share with our readers what the team at BIIA believe will be the big ‘movers and shakers’ in the regulatory space for our industry.
Our first prediction is that this year will see a significant shift to regulators driving the business agenda rather than as has been the case in the past them trying to catch up. Upcoming regulation of the use of AI and on meeting ESG standards will be the new drivers replacing ‘GDPR’. Privacy regulation will still continue to be implemented and developed globally and will continue to provide challenges to the availability and access to information. The recent challenge on the grounds of fundamental human rights to the availability of Ultimate Beneficial Ownership data through the Europe Court of Justice that we reported in the last newsletter is a case in point.
Our second prediction which is connected to the first is that the information needed by organisations to carry out their business will grow significantly and will need to be captured from new sources driven by the requirements of the ESG standards that are being implemented by governments in a growing number of countries. There is no doubt ESG is going to change the data landscape. For those in our industry agile enough to respond it will provide a great opportunity.
As you read on you will see that this newsletter reports on a number of developments that tie into these predictions. Moving forward into the New Year we will be further exploring these predictions and their impact through webinars and through the Regulatory Forum. Keep an eye out for the announcements of the dates for these events which will be issued shortly.
With the shift to regulation driving the ‘change agenda’ it’s going to be a busy year for the industry and we at BIIA will be making sure we keep members up to date on what going on and more importantly the direction of travel.
We are keen to ensure that we cover as many relevant regulatory developments as we can in this newsletter so if you have any items you feel would be worth incorporating please do get in contact with Neil Munroe, Managing Director and Editor of the Regulatory Newsletter by email @ firstname.lastname@example.org.
In this edition we will cover the following topics:
- Consumer Financial Protection Bureau (CFPB) Reports on Consumer Reporting Complaints and Responses
- European Union – Commission Implementing Regulation on publication and reuse of high value datasets
- Global – International Data Privacy Day (28th January 2023)
- European Union – Commission Publishes Draft Adequacy Decision for EU-US Data Transfers
- OECD and European Union – Declaration on Government Access to Personal Data
- USA – Colorado Attorney General Releases New Draft Regulations Implementing The Colorado Privacy Act
- ESG Regulation Monthly Round –Up
- European Union – New Corporate Sustainability Reporting Directive (CSRD)
- Germany – The Supply Chain Due Diligence Act comes into force
- European Union – Fundamental Rights Agency report on use of AI
- European Union – Digital Operational Resilience Act (DORA)
More information on the latest regulatory developments from across the globe is available on the BIIA website in the Regulatory Section
BIIA would like to thank its fellow industry association, ACCIS, for allowing us to re-use certain information that they have published on regulatory developments within Europe.
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To Request Permission to Publish Contact: Neil Munroe at email@example.com