- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2024-03-25T13:36:00
The U.K.’s data regulator published guidance setting out how it decides to issue penalties against companies and calculate fines.
Last week, the Information Commissioner’s Office (ICO) issued its updated data protection fining guidance to provide companies with greater transparency and clarity about how and why the regulator would administer penalties for a breach of the U.K. General Data Protection Regulation (GDPR) or Data Protection Act 2018.
The last time the ICO issued details about how it intended to rap companies for data protection and privacy breaches came in November 2018, six months after the European Union’s GDPR came into force.
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The U.K. Information Commissioner’s Office proposed a 6.1 million pound (U.S. $7.8 million) fine against Advanced Computer Software Group, an IT contractor for the National Health Service that allegedly failed to secure the data of 83,000 people after a cyberattack.
TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.
The U.K. Information Commissioner’s Office is seeking input from developers, users, and those interested in generative artificial intelligence to help inform policy and guidance regarding the technology.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
