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CHINA: New draft proposes more stringent requirements for processing data in the financial services industry

DLA Piper Privacy Matters

Authors: Carolyn Bigg, Amanda Ge and Venus Cheung On July 24, 2023, the People’s Bank of China (“ PBOC ”) released the Measures for the Management of Data Security in the Business Areas Falling into PBOC’s Jurisdiction (Draft for Comment) (“ Draft Measures” ) for public consultation, which closes on August 24, 2023.

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China: Navigating China episode 16: New data lifecycle guidelines for financial institutions in China – detailed assessments, additional security measures and some data localisation introduced

DLA Piper Privacy Matters

This introduces a data lifecycle security framework, and represents the key guideline for handling personal and other financial information by financial institutions (i.e. similar to the PIS Specification, but focused on the banking and financial services industry). Level 1: public data. are fulfilled.

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GUEST ESSAY: 5 security steps all companies should adopt from the Intelligence Community

The Last Watchdog

And, in doing so, the IC has developed an effective set of data handling and cybersecurity best practices. Businesses at large would do well to model their data collection and security processes after what the IC refers to as the “intelligence cycle.” Related video: Using the NIST framework as a starting point.

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Developments in Health Privacy and Cybersecurity Policy and Regulation: OCR Issues Cybersecurity Warnings and New Health Data Legislation Is Introduced

Data Matters

OCR’s reminders and recommendations for regulated entities include to: assess and reduce risks and vulnerabilities to the availability of ePHI, which is defined as “the property that data or information is accessible and useable upon demand by an authorized person” pursuant to the HIPAA Security Rule. 45 CFR 164.308(a)(5)(i).

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What can AI and generative AI do for governments?

IBM Big Data Hub

What if AI’s ability to access, organize and leverage data could create new possibilities for improving government offerings, even those already available online, by unlocking data across agencies to deliver information and services more intuitively and proactively?

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Big California Privacy News: Legislative and Enforcement Updates

Data Matters

The California legislature passed the California Age-Appropriate Design Code Act (AADCA) which, if signed into law (as many expect will be the case), will impose a variety of obligations and restrictions on businesses that develop and provide online services, products or features that minors under 17 are “likely to access.”

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China’s PIPL has finally arrived, and brings helpful clarification (rather than substantial change) to China’s data privacy framework

DLA Piper Privacy Matters

This aligns with other recent guidance putting clearer parameters around use of biometric data in China). Purposes/Restrictions on Use Collection and processing of data must be directly related to the purpose of processing specified in the privacy notice. Excessive data collection must be avoided.