- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-02-13T19:00:00
The California Privacy Protection Agency (CPPA) is seeking comment on privacy rules requiring certain large businesses to conduct annual cybersecurity audits and risk assessments if the state believes they are placing consumer data at risk.
The California Privacy Rights Act (CPRA) mandated the agency write cybersecurity audit and risk assessment rules for businesses whose processing of consumer personal data presents “significant risk to consumers’ privacy or security,” according to the CPPA’s request for comments published Friday.
The agency also will write rules concerning use of automated decision-making technology by businesses regarding consumers’ opt-out rights and their access to data.
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Draft risk assessment regulations under the California Consumer Privacy Act are designed to prohibit businesses from handling consumer data if uncontrolled risks—to the security and privacy of the consumer, the public, or the business—outweigh the benefits.
The California Office of the Attorney General has turned its attention to the practices of large companies regarding the protection of the personal information of employees and job applicants as part of its latest investigative sweep under the California Consumer Privacy Act.
Three years in, the promise of the California Consumer Privacy Act as a means of handing down eye-watering penalties against companies for data protection violations remains unfulfilled. And yet, the expanding U.S. data privacy legislation landscape is better for this.
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
