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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 3: personal financial information.

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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

Express, informed consent must generally be obtained from data subjects for all processing of personal information. The PIPL sets out limited consent exemptions, including (inter alia) in connection with some employee data handling or emergencies , but in practice we doubt organisations will rely on them.

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FRANCE: CNIL adopts new single authorization on fraud prevention systems

DLA Piper Privacy Matters

Only certain categories of entities in the banking and financial sector are eligible to self-certify under the AU-054. The AU-054 covers entities from the banking or financial sector which are under the control of the French Autorité de Contrôle Prudentiel et de Résolution in accordance with Article L.511-20-III

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CPRA Becomes the New Standard. Are You Ready?

Thales Cloud Protection & Licensing

It amends the California Consumer Privacy Act (CCPA) and goes into effect January 1, 2023, for all data collected starting January 1, 2022 1. There are a lot of questions about CPRA and while I won’t be able to address all of them here, I will provide some general information and food for thought. With 12% of the U.S.

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