Financial Conduct Authority

UK Financial Regulation Changes – update

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On the 16th March the FCA released a press release confirming their plans for changes to the regulation framework in the UK. The key points are: • These are “near-final rules”, the full details regarding the framework and transition will be published in spring/summer of 2015 with implementation scheduled for March 2016 • Senior Managers […]

EU Reform: the one stop shop…

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On 13 March 2015 during a press conference, the Latvian Presidency of the Council announced that agreement has been reached on a partial general approach in respect to the one stop shop mechanism as well as on the data protection principles, as part of on-going discussions on the draft General Data Protection Regulation (GDPR). What […]

Bulletin: Legal & Compliance – Binding Corporate Rules: a brave new world for data processors?

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On 28th January 2015, the U.K. Information Commissioner’s Office (“ICO”) has cleared binding corporate rules (“BCRs”) in respect to First Data Corp., a global electronic commerce and payment card processing company.  This is the first time the ICO has authorised BCRs for a data processor and the UK is only the third member state to […]

Bulletin: Legal & Compliance – Singapore: how to notify individuals of the purposes of collection, use and disclosure of personal data

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Since the Personal Data Protection Act 2012 (“PDPA”) came into force the principle of “notification” of individuals has been enshrined in the law.  However, the PDPA remained silent on how an organisation should achieve compliance. On September 11 2014 the Personal Data Protection Commission (“PDPC”) issued a “Guide to Notification” for organisations to follow in […]