Stronger anti-money laundering supervision for a stable banking and financial sector – Questions and Answers

The Commission proposed today to further strengthen the supervision of EU financial institutions to better address money-laundering and terrorist financing threats. While the EU has strong anti-money laundering rules in place, recent cases involving money laundering in some EU banks have raised concerns that those rules are not always supervised and enforced effectively across the … Continue reading Stronger anti-money laundering supervision for a stable banking and financial sector – Questions and Answers

Understanding the GDPR: General Data Protection Regulation

The GDPR–or General Data Protection Regulation–is a regulation passed by the European Union on April 27, 2016, with an effective start date of May 25, 2018. Officially classified as regulation 2016/679, the GDPR expands upon and replaces the Data Protection Directive 95/46/EC of 1995. It serves as the EU’s effort to synchronise and harmonise laws on citizen and resident … Continue reading Understanding the GDPR: General Data Protection Regulation

The EU General Data Protection Regulation (GDPR) to replace the Data Protection Directive 95/46/EC

After four years of preparation and debate the GDPR was finally approved by the EU Parliament on 14 April 2016. Enforcement date: 25 May 2018 - at which time those organisations in non-compliance may face heavy fines.  The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and was designed to harmonise data privacy laws across Europe, to protect and empower all EU … Continue reading The EU General Data Protection Regulation (GDPR) to replace the Data Protection Directive 95/46/EC