Is RegTech the new FinTech?

Lory Kehoe, David Dalton and Sean Smith, Deloitte Ireland,  Friday, September 23, 2016

Regulation is one of a number of services to receive the ‘Tech’ treatment in recent times. As with its bigger brother FinTech, the definition of RegTech will mean different things to different people in this developing area. While the name is new, the marriage of technology and regulation to address regulatory challenges has existed for some time with varying degrees of success. Increasing levels of regulation and a greater focus on data and reporting has however brought the RegTech offering into greater focus thereby creating more value for the firms that invest in these solutions.

How’s Privacy Shield coming along?

Sam Pfeifle, The Privacy Advisor (IAPP),  Friday, September 23, 2016

Noting that the Commission has already published a guide to the Privacy Shield for public consumption, Gencarelli allowed that, “there’s been a lot of misunderstanding on our side of the Atlantic. What is the Shield and how different is it from Safe Harbor? And it is significantly different … DPAs will have to work together to a much larger degree and extent. The Privacy Shield will be a test case of that new way of cooperating, especially when it comes to investigation or channeling complaints.”

Microsoft makes Azure Germany available with a unique cloud model

Techseen,  Thursday, September 22, 2016

Even though Microsoft Cloud Services are already available across Europe, with the company’s two new datacenters in the UK a couple of weeks back, this particular model, as stated by Microsoft, will provide a different option to an already available system, creating increased opportunities for innovation and economic growth for regulated partners and customers in Germany, the European Union (EU) and the European Free Trade Association (EFTA).

Microsoft Cloud Germany Opens Using Data Trustee Model

Pedro Hernandez, eWeek,  Thursday, September 22, 2016

Microsoft Cloud Germany is open and ready for business, operating under a "data trustee" model that addresses the data privacy and sovereignty concerns of the region's companies.

Box gives EU customers alternative to Privacy Shield with BCRs

Adam Shepherd, CloudPro,  Tuesday, September 20, 2016

Box's EU customers can store their files in its US datacentres without relying on the controversial Privacy Shield framework, the company confirmed today after receiving EU approval for its Binding Corporate Rules (BCRs). BCRs are legally-enforceable agreements between companies and the EU that govern how companies handle the data in their care, covering both customer information and that of Box's EU employees. It means Box can offer all EU customers a different way to send their data to the US, rather than relying on Privacy Shield, the newly-approved EU-US data transfer mechanism.

After GDPR, Privacy Shield and Brexit, 5 questions you need to ask about your data

Fortunato Guarino, SC Magazine,  Thursday, September 15, 2016

Any new regulation brings an inherent risk of non-compliance. To avoid issues, organisations need to understand exactly where any sensitive data is stored. Unfortunately, this is usually much easier said than done. The exponential increase in the amount of data produced makes answering even basic questions about how information is created, stored and managed difficult for many businesses to answer. This lack of insight creates a tremendous amount of risk. However, there are steps organisations can take to better manage data, reducing their risk of non-compliance, and mitigating potential damages in the event of a cyber-attack. The process starts with knowing which questions to ask.

The EU-U.S. Privacy Shield Versus Other EU Data Transfer Compliance Options

Lothar Determann, Brian Hengesbaugh and Michaela Weigl, Bloomberg Law,  Monday, September 12, 2016

Baker & McKenzie attorneys discuss the pros and cons of the recently-approved EU-U.S. Privacy Shield and compare it to other options available for cross-border data transfers from the European Economic Area to the U.S. When companies choose an appropriate compliance mechanism to establish adequate safeguards for data importers and onward transferees outside the EEA, they should carefully analyze their particular situation, the authors write.

The role of the Legal & Compliance Community in shaping the future of technology

Dervish Tayyip, EU Policy Blog,  Friday, September 9, 2016

Legal and Compliance professionals have an important role to play in helping shape the future of technology and cloud computing in particular. That was highlighted at today’s 28th Global Legal ConfEx, where I had the opportunity to deliver a keynote discussing the role of the Legal and Compliance community at a time of great uncertainty. The opportunities offered by cloud computing are big, as many of us who work with technology see every day. But these are also challenging times. In many instances technology has outpaced law and regulation. The Legal and Compliance community is grappling with the uncertainty that this creates, which in many cases is exacerbated by a lack of resources. However, it is also important to acknowledge that this is not a new phenomenon – it has happened before with other technologies. History tells us that regulatory equilibrium is eventually restored and progress continues.

EU Privacy Regulation Changes For WhatsApp + Skype

Richard Stiennon, Information Security Buzz,  Friday, August 19, 2016

The EU Commission has confirmed its desire to bring in more regulation for online messaging services such as WhatsApp and Skype in an attempt to safeguard users’ privacy. Richard Stiennon, Chief Strategy Officer, Blancco Technology Group commented below.

EU plans to extend some telecom rules to web-based providers

Julia Fioretti, Reuters,  Wednesday, August 17, 2016

The European Union is planning to extend telecom rules covering security and confidentiality of communications to web services such as Microsoft's Skype and Facebook's WhatsApp which could restrict how they use encryption. The rules currently only apply to telecoms providers such as Vodafone and Orange. According to an internal European Commission document seen by Reuters, the EU executive wants to extend some of the rules to web companies offering calls and messages over the Internet.