Tag Archives: Department of the Treasury

Mexico Hosts 33rd International Conference of Data Protection and Privacy Commissioners

Posted on October 31, 2011 by Hunton & Williams LLP

On November 2-3, 2011, Mexico’s Federal Institute for Access to Information and Data Protection (“IFAI”) will host the 33rd International Conference of Data Protection and Privacy Commissioners in Mexico City. Marty Abrams, President of the Centre for Information Policy Leadership at Hunton & Williams LLP, is the chairman of the Conference’s advisory panel and principal advisor to Conference organizers on program content. Hunton & Williams is a proud sponsor of the event which will feature Hunton representatives as speakers or moderators on multiple panels and plenary sessions, including the following:

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European Union Agrees to Access by U.S. Anti-Terrorism Authorities to Personal Data in Europe

Posted on December 1, 2009 by Hunton & Williams LLP

On November 30, the Council of the European Union agreed to allow U.S. anti-terrorism authorities access to financial data of individuals located in the EU under certain circumstances. Under the agreement, U.S. authorities will continue to have access to data collected by Society for Worldwide Interbank Financial Telecommunication ("SWIFT") after a SWIFT database located in Switzerland becomes active later this year (the data had previously been processed in a database located in the U.S.). The agreement contains restrictions on access to the data that have been negotiated between the EU and the U.S. (e.g., access will be limited to data that relate to individuals with links to terrorist activities; U.S. authorities will not have access to data concerning intra-European transactions; and U.S. authorities seeking access to personal data will have to tailor their requests narrowly and justify their requests to the U.S. Department of the Treasury). The agreement will run until October 31, 2010, after which time a further agreement between the U.S. and the EU would have to be negotiated for the U.S. authorities to continue to have access to the data. The agreement was reached despite the abstention from voting of the governments of Austria, Germany, Greece and Hungary because of data protection concerns. Under the EU’s new Lisbon Treaty (which went into effect on December 1, 2009), any further agreement will require participation by the European Parliament, which has been highly critical of the agreement.

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Agencies Issue Final Gramm-Leach-Bliley Act Model Privacy Notice

Posted on November 17, 2009 by Hunton & Williams LLP

Today, eight federal financial regulatory agencies issued a final Gramm-Leach-Bliley Act ("GLBA") model privacy notice.  The final model notice incorporates financial institutions’ required disclosures pursuant to Section 503 of the GLBA.  The GLBA requires, in relevant part, that financial institutions provide consumers with information regarding their collection and sharing of nonpublic personal information.  Financial institutions that adopt the final model notice will be deemed in compliance with the GLBA notice requirements.  The final model notice is the result of the agencies’ consumer research and testing.  It is touted as succinct, easy to use and consumer friendly. The final model notice will take effect 30 days after publication in the Federal Register. Publication is anticipated shortly.

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Agencies Expected to Publish Final Gramm-Leach-Bliley Act Model Privacy Notice

Posted on October 21, 2009 by Hunton & Williams LLP

The federal financial services agencies are expected to shortly announce a proposed-final Gramm-Leach-Bliley Act (“GLBA”) model form privacy notice.  The model notice incorporates financial institutions’ required disclosures pursuant to Section 503 of the GLBA.  Financial institutions that use the form to provide notice to consumers will be deemed in compliance with the privacy notice provisions of the GLBA.  Once adopted and published in the Federal Register, the financial services agencies’ final model notice will take effect in 30 days.

The GLBA requires, in relevant part, that financial institutions provide consumers with notice of their privacy policies and practices.  The privacy notice must describe a financial institution’s disclosure of nonpublic personal information to affiliated and nonaffiliated third parties.  In addition, the notice must also give consumers a reasonable opportunity to opt out of certain sharing with nonaffiliated third parties.

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