SEC Data Transfer Safe Harbor Raises Questions For UK Cos.
Law360, London (March 16, 2021, 8:35 PM GMT) -- The U.S. Securities and Exchange Commission recently announced that U.K. authorities will permit U.K.-based companies to transfer personal data of U.K. data subjects to the SEC to facilitate its investigations even in the absence of a subpoena or other legal obligation.
This development is significant because some practitioners have feared that the U.K.'s General Data Protection Regulation and the EU's General Data Protection Regulation would prevent such transfers.
The announcement, citing a letter to the SEC from the U.K. Information Commissioner's Office, provides some clarity but leaves many practical questions unresolved. Among these are:
How can companies meet the requirements of...
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