Tag Archives: Ceri Chave

Draft GDPR Transparency Guidelines Issued: What Does Your Privacy Policy Need to Contain?

by Jeremy Feigelson, Jane Shvets, Dr. Thomas Schürrle, Ceri Chave, Dr. Friedrich Popp, and Christopher Garrett

Late last year, the Article 29 Working Party (the “Working Party”) issued detailed draft guidance (the “Guidelines”) on transparency under the EU General Data Protection Regulation (the “GDPR”), which comes into force in May 2018. These Guidelines, which will be finalized following a consultation process, contain the Working Party’s interpretation of the mandatory transparency information that must be provided to a data subject by way of privacy policy or other disclosures.

One of the express requirements of the GDPR relates to how businesses communicate their use of a data subject’s personal information to that data subject at the point of data collection or consent, typically via a privacy policy or notice. Getting this right is crucial. Businesses will need to examine their current privacy policies and other disclosures closely, and consider whether these need revising not just in the light of the GDPR, but also to factor in the requirements listed in the Guidelines, which elaborate on existing GDPR provisions. While the Guidelines will not be binding, data protection authorities may take a dim view of businesses which fail to comply with the Guidelines without good reason, given that representatives from all of the EU data protection authorities are part of the Working Party. Businesses that fail to comply with the information duties under the GDPR will face fines of up to the higher of 4% of annual worldwide turnover or EUR 20 million. Continue reading →

UK Implements New Anti-Money Laundering Rules

by Karolos Seeger, Alex Parker, Ceri Chave, and Andrew Lee

On 26 June 2017, the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017[1] came into force. These new regulations (the “2017 Regulations”):

  • require a written assessment of money laundering risk and prescribe some features of effective internal controls;
  • detail when different categories of customer due diligence must be conducted and what steps must be taken; and
  • specify beneficial ownership information that trusts must provide for inclusion on a central register.

The 2017 Regulations are intended to ensure that the UK’s anti-money laundering regime is in line with the Financial Action Task Force’s standards and to implement into UK law the European Union’s Fourth Money Laundering Directive (“MLD 4”).[2] The key features of the 2017 Regulations and the principal differences between them and the Money Laundering Regulations 2007[3] (the “2007 Regulations”) are summarised below. Continue reading →

UK Criminal Finances Act 2017

by Karolos Seeger, Alex Parker, Andrew Lee, Ceri Chave, and Ed Pearson

Overview

On 27 April 2017, the Criminal Finances Act 2017 (the “Act”) received Royal Assent. The Act has not yet come into force, but it is expected that this will take place by September 2017. It includes several provisions that will significantly affect the investigation and enforcement of corporate crime in the United Kingdom. The key features of the Act are: Continue reading →