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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-10-07T21:25:00
President Joe Biden’s long-awaited executive order on a data privacy framework proposed a legal solution for American companies to complete transatlantic data flows without fear of violating the European Union’s strict rules.
The executive order, released Friday, is the tangible result of an agreement in principle announced in March between the United States and the European Union aimed at providing a workable, legally resilient framework that will allow companies to continue moving and storing the personal data of EU-based citizens to American-based servers without running into legal issues under the General Data Protection Regulation (GDPR).
The executive order stated U.S. intelligence activities would be limited to the pursuit of national security objectives, and that the privacy rights and civil liberties of all citizens, not just U.S. citizens, would be taken into consideration.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-03-03T14:00:00Z By Neil Hodge
The agreement on a new framework for transatlantic data flows between the United States and European Union could be finalized this year. Whether it can stand legal scrutiny is the real question.
2023-02-28T14:00:00Z By Compliance Week
Four senior compliance practitioners share their roles in ensuring data privacy compliance at their respective companies and the other departments that support their efforts.
2022-07-08T16:51:00Z By Kyle Brasseur
Reports of a potential shutdown of Meta services Facebook and Instagram in the European Union that could take place as soon as this summer underscore what’s at stake as the region works with the United States to finalize a new agreement on how to handle transatlantic data flows.
2024-07-24T15:50:00Z By Aaron Nicodemus
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.
2024-07-23T12:29:00Z By Ruth Prickett
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.
2024-07-22T15:50:00Z By Aaron Nicodemus
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.
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