Дата публикации: 2018-05-27 14:21
‘KPMG professionals are still coming across organisations that have not understood which aspects of their business are subject to GDPR, and a large number of businesses that are required to comply haven’t realised it. All organisations should be aware that GDPR is likely to become the global benchmark for data privacy. Any organisation looking to expand its global reach or to build trust with customers should see steps toward GDPR compliance as a good thing.’
Following the UK’s withdrawal from the EU, data transfer is likely to become a key issue for GCs across a range of sectors. Ensuring that data continues to flow smoothly post-Brexit is a particular concern for financial services businesses. The UK government and the Information Commissioner’s Office (ICO) have offered encouragement that data adequacy decisions will suffice, but GCs are concerned that data flows may be disrupted in the months following Brexit. As one noted, ‘many of our EU-based counterparties have stated that adequacy decisions or other mechanisms for third-country transfers, such as model clauses, will not convince them to store data outside the EU.’ In short, whatever legal mechanisms are put in place by the UK, some counterparties will refuse to store data outside the EU. Further, there are questions over how the EU will treat the UK’s arrangements concerning data transfer to third countries such as the US.
Good day Cory
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I know you give some guidance on the selection of a broker and trading platform.
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For organisations based outside the EU, a mixture of political will and financial risk is likely to drive awareness. ‘Taiwan’s laws have historically been very close to the EU when it comes to data protection’, comments Lawrence Ong, a partner at KPMG Law Firm in Taiwan. ‘But while Taiwan had similar laws to the EU, it was never so serious when it came to fines. GDPR will change that and is helping to focus people’s minds.’
The insurance market is a dynamic sector offering increasingly sophisticated products to its customers and providing competition to other parts of the financial services industry. The insurance sector’s growth is particularly noticeable with some jurisdictions reporting a doubling of premiums in the last decade... More