While the internet is a world-changing medium for information exchange, blockchain is the first native digital medium for peer-to-peer value exchange. EY’s analysis of blockchain suggests it may have the most impactful potential of the entire portfolio of disruptive technologies that are now emerging. But it also has the most obstacles to success, ranging from … More Legal disruption in a blockchain-enabled world
As a concept, privacy, and the need to protect it, has been around for decades. Yet the programs and governance structures in place to turn the concept of privacy protection into reality remain, if not in their infancy, then certainly in their adolescence. In EY’s Global Information Security Survey (GISS) 2015 privacy questionnaire, 38% of … More Privacy trends 2016: can privacy really be protected anymore?
On 24 March 2016, the Turkish Parliament adopted the Law on the Protection of Personal Data (Data Protection Law 6698), which came into effect on 7 April. The law establishes a new set of rules aimed at protecting personal data: notably, it regulates procedures and principles for processing personal data, as well as the rights … More Data privacy legislation update: Turkey
Data protection has entered a period of unprecedented change. This has been driven by: An increasing number of high-profile data breaches reported in the media that have led consumers and regulators to be concerned about how personal data is managed The demise of Safe Harbor (see our latest Safe Harbor blog entry below) The new … More EU General Data Protection Regulation: Are you ready?
On 6 October 2015, the European Court of Justice (ECJ) ruled that the previously established Safe Harbor framework was invalid as a mechanism to approve transfers of personal data between Europe and the US. Following that decision, the national Data Protection Authorities (Article 29 Working Party) called EU and US officials to renegotiate Safe Harbor … More US Safe Harbor update: EU-US Privacy Shield – a new framework for data transfers
The final reports on the Base Erosion and Profit Shifting (BEPS) Action Plan have been released by the Organisation for Economic Co-operation and Development (OECD) and endorsed by the G20. These reports on the 15 BEPS focus areas reflect recommendations for significant changes in international tax laws and treaties. Attention has now turned to … More EY webcast to explore implications of OECD’s BEPS on companies’ legal functions
After the European Court of Justice invalidated the Safe Harbor agreement in October 2015, the EU General Data Protection Regulation (GDPR) was eagerly anticipated. On 15 December 2015, a political compromise on the GDPR was reached by the European Commission, European Parliament and the Council of the European Union. Two … More Political compromise: vote to adopt new EU General Data Protection Regulation
This update summarizes recent developments relating to OECD BEPS, and how Luxembourg, Poland and Spain are introducing legislation in response. Read EY’s Global Tax Alerts for the latest in BEPS developments. On 2-3 November 2015, the OECD’s Task Force on Tax and Development met to review progress during 2015, including the latest on the OECD … More The latest on BEPS: how three jurisdictions are adopting new laws in response
A sophisticated hack can be catastrophic for a company. If executed with skill and precision, companies can lose sensitive product information to corporate espionage, reams of consumer information to malicious hacking syndicates and potentially a significant chunk of its share price once the world finds out — and find out it will. For tax departments, … More Issue 14 of EY’s Tax Insights explores data security and the race to beat cybercrime
The European Court of Justice’s (ECJ) recent ruling on data protection Safe Harbor principles could have far-reaching implications for the protection of EU data subjects (including employees, clients and suppliers), particularly where the transfer involves “certified” companies that host and/or centralize large amounts of data that is potentially accessible by non-authorized US entities and authorities. … More Business implications of the ECJ’s ruling invalidating the “adequacy” of US Safe Harbor – updated