In today’s edition of Daily Compliance News:
- Corruption and money laundering are destroying the planet. (FCPA Blog)
- UK to ‘rethink’ replacing GDPR. (TechCrunch)
- Meta appeals €405 million fine. (Cordery Compliance)
- More whistleblowers at EY (FT)
Tag: Data Privacy
In this episode of the FCPA Compliance Report, I am joined by Keith Williamson and Henry Chambers, Managing Directors at Alvarez and Marsal. We look at the firm’s Threatscape Report. Highlights of this podcast include:
A. Threat 1-ABC Threats
- Why do you see a potential increase in anti-corruption investigations?
- In addition to the US under the FCPA, do you see other countries are actively assisting US authorities in ABC investigations?
- The new DOJ Monaco Doctrine reinstate the Yates Memo and the DOJ focus on individuals. What does this mean for ABC investigations?
- What are some of the key challenges in handling investigations in China?
- How does this increase in ABC enforcement impact M&A?
B. Threat 2-Fraud and Digital Asset Fraud Threats
- What are digit assets and digit asset fraud?
- The US has not yet released many regulations regarding cryptocurrency. What is the role of other countries in such regulation, if any?
- Why is the Ukraine war the first ‘digital asset war’?
- How have the worldwide sanctions against Russia impacted the growth and use of digit assets?
- What are the key controls and screen tools for digital assets that you advocate a company employ?
C. Threat 3-Data Privacy and Data Protection
- What is the Personal Information Protection Law and how does it relate to the Chinese State Secrets and Data Security Laws?
- How can a non-Chinese company get data out of China?
- What are some of the key components of compliance program for this new law?
- How does this new law impact investigations in China?
Resources
- Threatscape 2022 report.
- Keith Williamson, MD and Head of Disputes and Investigations in Asia.
- Henry Chambers, Senior Director, Disputes and Investigations.
Categories
Clearview AI Fine by the ICO
Jonathan Armstrong and Tom Fox return for another episode of Life with GDPR. In this episode, we take up a fine in the UK by the ICO against Clearview AI. We have discussed other EU countries’ fines against Clearview previously. Some of the highlights include:
- What is this case all about?
- What did the ICO decide?
- Why is AI under the spotlight again?
- Other actions and penalties against Clearview?
- Key takeaways.
Resources
For more information on the Clearview AI fine by the ICO, check out the Cordery Compliance client alert on this topic; click here. For more information on Cordery Compliance, go to their website here. Also, check out the GDPR Navigator, one of the top resources for GDPR Compliance, by clicking here.
Categories
Privacy Shield 3
Jonathan Armstrong and Tom Fox return for another episode of Life with GDPR. In this episode, consider the recently announced EU/US resolution to allow data transfer from the EU to the United States through the mechanism of Privacy Shield 3. Some of the issues we consider include:
- Is it Déjà vu all over again?
- What about consent and standard contractual clauses as a basis for data transfer?
- What was the court’s ruling?
- Why will double due diligence be required going forward?
- What about the UK?
- What does Max Shrems have to say?
Resources
Check out the Cordery Compliance client alert on this topic; click here and here. For more information on Cordery Compliance, go to their website here. Also, check out the GDPR Navigator, one of the top resources for GDPR Compliance, by clicking here.
Jonathan Armstrong and Tom Fox return for another episode of Life with GDPR. In this episode, they celebrate the 10th anniversary of the initial proposal of the law, which became GDPR. Some of the issues they consider include:
- What was in the original proposal that did not become enacted in the final law?
- Reduction in costs-what happened?
- Right to be Forgotten morphed into something very different than intended.
- Fines, Fines, Fines.
- Evolution of regulatory sophistication.
- Criticism of regulators.
Resources
Check out the Cordery Compliance client alert on this topic; click here. For more information on Cordery Compliance, go to their website here. Also, check out the GDPR Navigator, one of the top resources for GDPR Compliance, by clicking here.
Welcome to the only roundtable podcast in compliance. The entire gang was also thrilled to be honored by W3 as a top talk show in podcasting. In this episode, we have the quartet of Karen Woody, Jonathan Armstrong, Matt Kelly and Jay Rosen. We end with a veritable mélange of shouts outs and rants.
1. Karen Woody looks at a recent panel of two consisting of the current and most recent chair of the SEC, Gary Gensler and Jay Clayton respectively. Karen shouts out to the Indianapolis Motor Speedway.
2. Jay Rosen considers telemedicine and telehealth coming out of the pandemic. Rosen rants about Tampa Bay receiver Antonio Brown who misrepresented his vaccination status by presenting a fraudulent shot card to the Bucs.
3. Matt Kelly looks at recent imbroglios involving SPACs, their inherent conflicts of interest and corporate governance issues. Kelly has a Shout Out to the Women’s Tennis Association for their pulling their tennis tournaments out of China in the wake of the Chinese government’s treatment of Peng Shuai after she raised issues of sexual harassment against a high-ranking Party member.
4. Jonathan Armstrong takes look at a recent UK data privacy enforcement action against the UK government due to the release of Personal Identifiable Information. Armstrong shouts out to the EU Public Prosecutors Office.
5. Tom Fox has his first dual rant/shout out. He rants about MLB locking out the players, particularly the inanity of doing so during the offseason. He shouts out to Houston Chronicle sports columnist Brian Smith for editorializing that MLB should use this time to fix the game of baseball, instead of trying to simply save a few pennies.
The members of the Everything Compliance are:
• Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
• Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
• Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
• Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at jonathan.armstrong@corderycompliance.com
• Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com
The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.
Digital Assets: Trading & Compliance for Cryptocurrency
In this episode, Director of Registered Investment Company Services, Allison Fraser and Director of Broker-Dealer Services & Private Funds, John Gentile discuss the latest on digital assets and cryptocurrency. Are they considered securities, what does the SEC’s risk alert mean for digital assets, and how should investment managers be thinking about cryptocurrency trading and compliance?
About Our Guest Speakers:
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
Mike Farrell is a Certified Information Systems Auditor (CISA®) and Certified Information Security Manager (CISM®), and Cybersecurity Consultant at CSS. He analyzes data and conducts cybersecurity risk assessments, policy gap analyses, vulnerability scanning and social engineering testing. His Information technology experience includes network installations and management, hardware and software configuration, and troubleshooting.
Cybersecurity Training, Talent and Diversity
In this episode, Founder and CEO at CyberVista, Simone Petrella and CSS’s Director of Cyber IT Services, E.J. Yerzak discuss the importance of cybersecurity training, education, how to recruit talent and diversity in cyber and why compliance and cybersecurity are synonymous.
About Our Guest Speakers:
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
Simone Petrella is CEO and Co-Founder of CyberVista. Previously, Simone was a Senior Associate at Booz Allen Hamilton where she helped build the firm’s cybersecurity practice in the commercial sector focusing on the creation of cyber fusion centers and the integration of cyber threat intelligence, security operations, and cyber defense operations into effective cyber security operations. For a decade she led the firm’s all source cyber threat intelligence business in the national security and Defense sectors, where she built out a threat capability and team with in depth subject matter expertise in all aspects of cyber threat intelligence, including intelligence support to both defensive and offensive operations. Her areas of specialty included predictive cyber intelligence based on an understanding of the threat adversary and developing service offerings to integrate intelligence into exercises to provide realistic cyber scenarios. Simone received her J.D. with honors from Catholic University’s Columbus School of Law and graduated from Georgetown University with a B.A. in Government and a M.A. in International Law and Policy. She is a member of Women in International Security and is admitted to the New York Bar. A native of New Jersey, she has resided in Washington D.C. since 2000.
Cybersecurity Awareness Month – Reducing Cyber Incidents Through Vendor Due Diligence
In this episode, CSS’s team of cybersecurity experts E.J. Yerzak and Mike Farrell kick off Cybersecurity Awareness Month discussing the importance of vendor due diligence and the role that service providers can play in cyber incidents.
About Our Guest Speakers:
E.J. Yerzak CISA®, CISM®, CRISC™ assists firms in assessing and managing their cybersecurity risk – from network vulnerability scanning and penetration testing to onsite cybersecurity assessments and assistance in implementing the NIST cybersecurity framework. E.J. has authored articles and alerts on emerging regulatory and technology issues, and is regularly requested to speak as a cybersecurity expert at industry conferences.
Mike Farrell is a Certified Information Systems Auditor (CISA®) and Certified Information Security Manager (CISM®), and Cybersecurity Consultant at CSS. He analyzes data and conducts cybersecurity risk assessments, policy gap analyses, vulnerability scanning and social engineering testing. His Information technology experience includes network installations and management, hardware and software configuration, and troubleshooting.
