Quantum technology is seen as having the potential to revolutionize many aspects of technology, the economy and society, including the financial sector. At the same time, this technology represents a significant threat to cybersecurity, especially due to its potential to render most current encryption schemes obsolete.Continue Reading Quantum Computing and the Financial Sector: World Economic Forum Lays Out Roadmap Towards Quantum Security
United Kingdom
The UK ICO launches consultation series on GenAI
On 15 January 2024, the UK Information Commissioner’s Office (“ICO”)[1] launched a series of public consultations on the applicability of data protection laws to the development and use of generative artificial intelligence (“GenAI”). The ICO is seeking comments from “all stakeholders with an interest in GenAI”, including developers, users, legal advisors and consultants.[2]
This first public consultation (which closes on 1 March 2024) focuses on the lawful basis for training GenAI models on web-scraped data.[3]Continue Reading The UK ICO launches consultation series on GenAI
The UK Government Publishes the New Data Protection Bill
On March 8, 2023, the UK government published the Data Protection and Digital Information (No. 2) Bill (the “Bill”) which proposes to update the current UK data protection regime. Continue Reading The UK Government Publishes the New Data Protection Bill
The United Kingdom and the Republic of Korea Finalize Data Sharing Agreement
On 24 November 2022, the UK government announced its adequacy decision for the Republic of Korea, which will allow UK organizations to share personal data with Korean organizations more freely under the UK General Data Protection Regulation (“UK GDPR”).Continue Reading The United Kingdom and the Republic of Korea Finalize Data Sharing Agreement
UK ICO Issues Draft Guidance on Monitoring at Work
The Information Commissioner’s Office (“ICO”) has opened a consultation on new draft guidance on monitoring at work (the “Draft Guidance”). The Draft Guidance applies in both the private and public sectors in respect of any worker, a term which is used to include employees as well as non-employee workers, independent contractors and volunteers.
Continue Reading UK ICO Issues Draft Guidance on Monitoring at Work
UK’s Data Protection and Digital Information Bill: An Uncertain Direction
On September 5, 2022, following the election of the new UK Prime Minister, the UK Government decided not to proceed with the second reading and other motions relating to the Data Protection and Digital Information Bill (the “Bill”), which was due to have taken place on the same day. According to the Leader of the House of Commons, this Bill was pulled as “to allow Ministers to consider the legislation further”.
Continue Reading UK’s Data Protection and Digital Information Bill: An Uncertain Direction
Navigating the Complex Regulation of Privacy and Data Protection
For those following data privacy and consumer data protection trends, it should come as no surprise that enacting comprehensive legislation to regulate companies’ use of personal data has continued to be a focal point both internationally and in the U.S., at the federal, state and local levels. …
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UK Supreme Court Rules in Favour of Google in Data Protection Class Action Claim
On 10 November 2021, the Supreme Court of the United Kingdom handed down its much-awaited judgment in the case of Lloyd v Google LLC [2021] UKSC 50. The Supreme Court unanimously ruled that the claim, which is a representative action alleging breaches of the Data Protection Act 1998 (“DPA 1998”), could not proceed.
The Supreme…
District Court Dismisses Securities Fraud Claim Against FedEx Concerning Disclosures About NotPetya Cyberattack
Last month, the United States District Court for the Southern District of New York granted a motion to dismiss in In re Fed Ex Corp. Securities Litigation, a putative class action securities fraud case filed against FedEx following numerous disclosures in 2017 and 2018 regarding the impact of a Russian cyberattack on its recently acquired subsidiary, TNT Express Services B.V (“TNT”).[1] The court held that the complaint failed to adequately plead that FedEx had made any material misrepresentations or had the requisite scienter. FedEx’s successful defense against the lawsuit highlights the importance for companies to consider their disclosure obligations following a cyber-incident and carefully tailor their disclosures to account for their risks and accurately reflect the consequences of the incident.
Continue Reading District Court Dismisses Securities Fraud Claim Against FedEx Concerning Disclosures About NotPetya Cyberattack
UK ICO Data Breach Fines – What Can We Learn From British Airways and Marriott?
In July 2019, the UK Information Commissioner’s Office (“ICO”) issued two notices of intent (“NOIs”) to fine British Airways (“BA”) and Marriott International Inc. (“Marriott”) for violations of the EU General Data Protection Regulation (“GDPR”), both related to high-profile personal data breaches. The NOIs proposed staggering fines of £183.39 million and £99.2 million, respectively, which would have constituted the largest penalties levied under the GDPR to date. More than a year later, the UK ICO finally issued the long-awaited penalty notices in relation to both investigations, imposing in both cases fines that, while still significant, were greatly reduced from what had initially been indicated – £20 million in the case of BA (a massive reduction of more than £163 million), and £18.4 million in the case of Marriott (an equally surprising reduction of more than £79 million).
Continue Reading UK ICO Data Breach Fines – What Can We Learn From British Airways and Marriott?