By Justin Baer WSJ Tues., April 30, 2019 Fidelity Investments’ parent company is launching a new business it says will help consumers keep their online passwords to themselves. The new FMR LLC business, called Akoya, developed a software platform that sits between the financial-services firms that hold clients’ accounts and the many apps that aggregate information to help customers prepare their tax returns, budget their expenses or plan for retirement. Akoya lets customers choose which apps can access data from their bank, mutual-fund and brokerage accounts and how much information these apps can grab. When a customer links a new app to their bank or brokerage account, she will be sent to a dashboard connected to their financial firm to allow access. Akoya built that dashboard and will administer the connection between the two parties. Fidelity executives said they expect financial firms will pay for the platform so they don’t have to build one … [Read more...] about Fidelity Parent Launching Online Data-Protection Business
Data protection time limits
If your organisation shares personal data with businesses in the European Economic Area (EEA), you will need to take steps to ensure you continue to comply with data protection laws if the UK leaves the EU without a deal. What is personal data? Personal data refers to any information that can be used to identify a living individual, including a customer’s name, their physical or IP address, or HR functions such as staff working hours and payroll details. Although the UK’s own data protection standards would remain the same, how personal data is transferred from the EU/EEA to the UK would change. This could affect your organisation. Therefore, if your organisation receives personal data from organisations in the EU you should consider, with your EEA partners, what changes you may need to make to ensure that data can continue to flow after the exit date. These changes will affect organisations both large and small. Organisations should as a priority, review whether they … [Read more...] about Businesses need to take steps to comply with data protection laws if UK leaves the EU without a deal
Google was given the record fine from the CNIL regulator for failing to provide transparent and easily accessible information on its data consent policies, a statement said. Google was handed the record fine from the CNIL regulator for failing to provide transparent and easily accessible information on its data consent policies, a statement said. The CNIL said Google made it too difficult for users to understand and manage preferences on how their personal information is used, in particular with regards to targeted advertising. "People expect high standards of transparency and control from us. We're deeply committed to meeting those expectations and the consent requirements of the GDPR," a Google spokesperson said in a statement. Photo: AFP "We're studying the decision to determine our next steps." The ruling follows complaints lodged by two advocacy groups last May, shortly after the landmark GDPR … [Read more...] about France uses new EU data law to fine Google €50 million
Apple’s chief executive Tim Cook has called for the US to introduce a national privacy law, attacking a “shadow economy” in which people’s personal data is bought and sold without their knowledge. Mr Cook said companies should have to collect as little data as possible and make it easy for people to delete the information that is held about them. It is the latest attempt from Apple to position itself as the steward of consumers’ privacy, and to draw a line between itself and companies such as Facebook and Google. Mr Cook said that people need to “win back their right to privacy” and that companies that sell data should have to register with the Federal Trade Commission, the US consumer watchdog. “I and others are calling on the US Congress to pass comprehensive federal privacy legislation - a landmark package of reforms that protect and empower the consumer,” Mr Cook wrote in Time Magazine. He singled out “data … [Read more...] about Apple boss Tim Cook attacks ‘shadow economy’ of data in call for new privacy law
By Levi Sumagaysay | [email protected] | Bay Area News Group PUBLISHED: January 17, 2019 at 6:00 am | UPDATED: January 17, 2019 at 6:03 am State and federal lawmakers have pushed for privacy laws after myriad online breaches and scandals. Now, saying the United States faces a “crisis,” advocacy groups are going a step further and calling for a new data protection agency. “The U.S. needs a federal agency focused on privacy protection, compliance with data protection obligations, and emerging privacy challenges,” an alliance of more than a dozen groups — including Bay Area-based Color of Change, Center for Media Justice and Berkeley Media Studies group — said Thursday. They said the agency, unlike the Federal Trade Commission, should have rule-making authority. “Digital giants invade our private lives, spy on our families, and gather our most intimate facts for profit,” the groups said in the proposal. “Each … [Read more...] about Is it time for a federal data protection agency?