- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-02-28T14:00:00
Could Congress pass comprehensive federal data privacy legislation in 2023? If not, could another government agency step into the breach?
Experts believe there are several possibilities.
At the federal level, the regulation most likely to be enacted in 2023 with an impact on data privacy won’t come from Congress or the Federal Trade Commission (FTC) but could instead be contained within a cybersecurity rule under consideration by the Securities and Exchange Commission (SEC), said Vivek Mohan, partner at Gibson Dunn and former senior global privacy law and policy attorney at Apple.
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If companies haven’t started the process of coming into compliance with the California’s sweeping new privacy law, they need to begin now.
Iowa became the sixth U.S. state to pass comprehensive data protection legislation allowing residents control over how their personal information is accessed and shared.
Expect big developments for the compliance profession in 2022 to continue to take center stage in the year ahead, including CCO certifications, climate-related disclosures, and more.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
