1 / 3

What is ePrivacy Regulation and Its Impact on Financial Services?

As the name contains, GDPR aims at the protection and processing of personal information. Whereas, ePrivacy Regulation focuses on electronic communication such as emails, SMS, cookies, etc. So is there any impact on financial services because of this? View this pdf or visit this link to know more: https://bit.ly/3nxlwLW

shielfc
Download Presentation

What is ePrivacy Regulation and Its Impact on Financial Services?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Next Wave of Data Protection – the ePrivacy Regulation & its Impact on Financial Services FirmsstillstrugglewiththeimplementationoftheGDPRandthe increasingnumberoffinesisatestamenttothat. Andthosethat seemtohavedodgedthebulletsofar, thenextoneseemsonits way. TheePrivacy Regulationpromisestobringmorechallenges tothefinancialservicesindustrythatisstillstrugglingwiththe firstwaveofnewdataprotectionregulations. JochenHeussnerof PlanetComplianceexplainswhatwecanexpectandwhatit meansforfinancialinstitutions.

  2. What’s the ePrivacy Regulation & why do we need more data protection rules? What’stherationalebehindmoredataprotectionregulationsif theGDPRhasnotevenbeenaroundforayear? Well, initiallya largeoftherulesofthecurrentdraftoftheePrivacyRegulation wasintendedtobepartofGDPRbutwasshotdowninearly discussions. Buttheneedtoaddresstheelementsthatwerenot coveredintheGDPRandthenecessitytoupdatetheexisting frameworkthatstartedtoberatherout-datedremained. TheePrivacyRegulationfocusesonthespecificusesofelectronic communicationsuchasemail, SMS, cookies, anddevice fingerprintingaswellastheintegrityoftheinformationitself. In thatsense, theePrivacyregulationisanenhancementofthe GDPRsinceitcoverstheuseofpersonaldataasregulatedunder GDPRintheformofelectroniccommunicationlikeanemail. 02

  3. ePrivacy Regulation is not only an Extension of the GDPR Thenewregulationaimstoremovethesedifferencessinceitwill bedirectlyapplicableacrosstheUnion, whichmeansthesame levelofdataprotectionforall. Itextendsthescopetonew communicationserviceslikeApple’sFacetime, WhatsAppor FacebookMessengerthathavelongovertakentraditional messagingservices. TheePrivacyRegulationcoversbothcontent andmetadataofelectroniccommunications, whichhighlightsthe valueintermsofprivacyofinformationliketheplaceandtimeof acallormessage. So, thebottomlineisthatthereareanumberofvariablesto considerthatwilllikelyfurtherdelaythecomingintoforceofthe newregulation. Wewillalsoseeadditionalchangesthatmight waterdownthecurrentobligations. Whatissurethoughisthat theePrivacyRegulationwillbeintroducedatsomepointinthe notalltoofarfuture. Forfinancialinstitutions, thismeansthat theywillneedtotrytofindholisticsolutions. Formoredetailsvisit ourwebsite. Source: https://www.shieldfc.com/ 03

More Related