Welcome to the 65th 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 051022

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

SUMMARY

In this 65th Edition, the first since the summer break, we have a strong focus on data in terms of privacy and security with regulators in a number of countries taking action to ensure citizens’ data is protected. As regulators continue to become more aware of the growth in data as a result of the digital evolution we will no doubt continue to see further action being taken.

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, Deputy Managing Director and Editor of the Regulatory Newsletter by email @ munroen@biia.com.

Company Data

  • UK – Register of overseas entities goes live – foreign beneficial owners of UK real estate are required to register

Data

  • European Union – European Court of Justice (ECJ) on special data categories and the implications for CRAs
  • USA – Consumer Finance Protection Bureau (CFPB) warns insufficient data security measures may violate Consumer Financial Protection Act
  • USA – CFPB rule Digital Marketing Providers are subject to Consumer Protection Regulations

Privacy

  • Hong Kong – Office of the Privacy Commissioner for Personal Data released guidance note on data security measures for information and communications technology
  • India – Government withdraws long-awaited Personal Data Protection Bill
  • Indonesia – Personal Data Protection Law

Cybersecurity

  • European Union – European Commission Adopts Proposal for Cyber Resilience Act
  • Vietnam – New official guidance on Vietnam’s data localization requirements

Artificial Intelligence

  • European Union – AI Act

Financial Services

  • USA – CFPB Study details the rapid growth of “Buy Now, Pay Later” Lending

More information on the latest regulatory developments from across the globe is available on the BIIA website in the Regulatory section


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To Request Permission to Publish Contact:  Neil Munroe at munroen@biia.com