Information Governance

In its speech at the FT Cyber Security Summit, the FCA has outlined its approach to cybersecurity in financial services firms. In addition to this, the Group of 7 (“G7”) has issued an 8-point framework for the financial sector as a push for financial firms to design a cybersecurity strategy.

We explore each piece of guidance below.
Continue Reading FCA and G7 issue cybersecurity guidelines for the financial sector

TheCityUK and Marsh have jointly published a report urging UK financial and related professional services sectors to step up their efforts to address cyber risk. The report (headed “Cyber and the City”) suggests that cybersecurity is still not being given the priority it deserves, particularly given the substantial disruption, costs and reputational damage that can

In a sign of the continuing significance of the U.S. Supreme Court’s recent ruling in Spokeo v. Robins, 136 S. Ct. 1540 (May 24, 2016), another federal court has cited that ruling in dismissing claims for lack of Article III standing. In Gubula v. Time Warner Cable, Inc., No. 15-cv-1078 (E.D. Wis. June

The Council of the European Union adopted the EU Network and Information Security (NIS) Directive (the ‘Directive’) 17 May, ready for final adoption by the European Parliament. The Directive, initially proposed in 2013, has been progressing through the EU legislative procedure for some time. As we reported in December last year, the Directive covers

Responding to the increasingly significant threats to customer payment information, the Payment Card Industry Security Standards Council (‘PCI SSC’) has published an update to its data security standard (‘PCI DSS’). Version 3.2 seeks to protect cardholder data by introducing:
Continue Reading PCI Council Reacts Again to Data Security Threats

The long-awaited General Data Protection Regulation was published in the Official Journal of the European Union on 4 May 2016. This means that the most comprehensive reform to the EU’s omnibus data protection law in 20 years will apply throughout the European Union from 25 May 2018.

We have written in previous posts (here

It is commonplace to turn on the television news and hear of a new data breach from a large retailer or someone else. No one wants the legal problems (not to mention the embarrassment and the hit to reputation) from having their systems breached. Consequently, data security is on everyone’s mind.

However, many companies have

On 22 December 2015, the European Commission announced its next steps towards completing the single market for cross-border parcel delivery. The Commission’s aim is to enhance price transparency and regulatory oversight of the parcel market over the coming year, thereby providing consumers and businesses with better access to digital goods and services across Europe.

Cross-border parcel delivery is considered to be one of the key drivers of e-commerce, and forms part of the Commission’s strategy on achieving a Digital Single Market (‘DSM’). The Commission believes that affordable and high-quality, cross-border delivery can build consumer trust in cross-border online sales, and can stimulate the growth of e-commerce. However, high prices and inefficient deliveries between Member States have deterred consumers and businesses from buying and selling online.
Continue Reading European Commission targets cross-border parcel delivery as part of its Digital Single Market Strategy

With the festive season now firmly upon us, there are indications that European Union institutions could soon be delivering an early Christmas present to businesses: the conclusion of trilogue negotiations on the General Data Protection Regulation (‘GDPR’).

The GDPR, according to the latest document to come out of Brussels, aims to “reinforce data protection rights of individuals, facilitate the free flow of personal data in the digital single market and reduce administrative burden.” The EU Commission, Parliament and Council are currently locked in closed-door negotiations to agree to the final text of the GDPR, and while some uncertainty remains over the exact provisions that will be included, the latest available text from the European Presidency indicates that the key changes will be that:
Continue Reading Countdown to the General Data Protection Regulation…

U.S. tech giants, like Google and Facebook, found themselves caught between the European Parliament and the European Commission as disagreements continue as to whether Internet service providers should be included within the definition of ‘market operators’ in the Proposed Directive on Network and Information Security (IP/13/94) (the ‘Directive’). Currently, the EU Commission would like to see both search engines and social networks included, whereas the European Parliament prefers a common European framework focusing on critical infrastructure only, such as financial services and power stations.

The EU Parliamentary view is that broadening the scope of the Directive risks undermining the aim of the law which is to protect key or critical services, whereas including ISPs, and as a consequence some U.S. tech giants, would require the tech giants to report global cyber attacks to each of 28 member states’ respective regulators. Those arguing against ISP inclusion argue that they are already highly regulated, and that many of the requirements contained in the proposed Directive are already provided for by commercial contracts and service level agreements, and that the introduction of additional legislation would create added complexity and have a negative impact on innovation within the tech industry.
Continue Reading Tech giants caught between EU disagreements on scope of Proposed Network and Information Security Directive