Luxembourg
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GRIP Extra: HSBC to book $1.1B provision after losing Madoff appeal, EU coordinates enforcement on GDPR transparency
Our in-brief roundup of notable stories from the last week.
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European GDPR fines down 33% in 2024, but enforcement ‘remains dynamic’
The Irish Data Protection Commission continues to take the lead on GDPR fines in Europe.
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The CSDDD on its way to binding law: Next steps to watch for
Key developments include: Member State transposition, reporting criteria, European Single Access Point submissions, and guidelines on standard contractual clauses.
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Concerns over complete venue coverage and FCA ‘name and shame’ approach at compliance roundtable
Risk acceptance and supervisory visits also discussed at Global Relay’s quarterly roundtable in London.
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FCA consults on implementing the Overseas Funds Regime
The OFR is set to redefine how non-UK domiciled funds can be marketed to UK retail investors based on the principles of equivalence.
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European authorities issue record €2.92bn in GDPR fines
A new survey shows a slight decrease in daily data breaches – but a 168% increase in fines in the last 12 months.