Latest legal and Regulatory News - 12th October

Latest legal and Regulatory News - 12th October

 

In this issue:

Risk & Compliance

Commercial

Corporate

Information law and TMT

Employment

In-house

Dates for your diary

Useful information

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Risk & Compliance

Data protection

The European Scrutiny Committee (the Committee) has published recent correspondence with the Minister of State for Media and Data, following the Committee's request for information on—(a) the UK Government's view of the case of Data Protection Commissioner v Facebook Ireland Limited, Maximillian Schrems (commonly known as 'Schrems II'), Case C-311/18, and (b) the UK’s aspirations for durable data adequacy decisions from the EU for both commercial and law enforcement purposes from 1 January 2021. See: LNB News 06/10/2020 4.

The Departments for Digital, Culture, Media & Sport (DCMS) and Business, Energy & Industrial Strategy (BEIS), along with the Office for Civil Society (OCS) and Information Commissioner's Office (ICO) have collectively published updated guidance on data protection and data flows tohelp stakeholders prepare for the end of the transition period and beyond. Further new and updated guidance may be issued as the transition period progresses, so stakeholders are advised tomonitor the pages for updates. See: LNB News 02/10/2020 89.

The ICO has launched a public consultation on its draft statutory guidance, which details how it will regulate and enforce data protection legislation in the UK. The draft guidance sets out the ICO’s powers, how it is used and how fines are calculated, while assuring businesses that the powers will be used ‘proportionately and consistently’. The consultation closes at 5pm on 12 November 2020. See: LNB News 01/10/2020 11.


Financial crime and sanctions

MLex: Jersey has struggled toreduce its exposure tointernational money laundering despite its commitment toboost corporate transparency, the British Crown Dependency has acknowledged. See News Analysis: Jersey lays bare difficulties in curbing money laundering.

The European Commission has published

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About the author:
Allison is a former partner of Shoosmiths, with extensive experience of legal management and practice compliance.