Financial Regulators Seek GDPR Exemption from EU

Financial Regulators Seek GDPR Exemption from EU

Reuters said this week that financial watchdogs from North America, Britain and Asia are pressuring the European Data Protection Board to sign an agreement which will exempt them from the GDPR which are causing delays with cross-border investigations.

EU’s new data privacy law, which came into effect last May 25, imposed new rules and privacy safeguards that narrowed an exemption for cross-border personal data transfers made in the “public interest”.

Officials reportedly said that failure by the EU to exempt the regulators could potentially jeopardize international probes and enforcement actions in cases involving market manipulation and fraud.

Source: Reuters

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