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Political Agreement on a New Framework for EU-U.S. Personal Data Transfers

On March 25, 2022, the U.S. and EU announced that they reached a political agreement in principle on a new "Trans-Atlantic Data Privacy Framework" (the Framework). This would be the third framework for EU-U.S. personal data transfers, after the invalidation of the Privacy Shield in 2020 and of its predecessor, the Safe Harbor, in 2015. The new Framework is yet to be set out in legal documents,โ€ฆ
White House District Of Columbia United States European Union European Commission Us Department Of Commerce
Source: wsgr.com

Congress Passed CIRA Bill to Increase CIRA Funding

Congress passed the Cyber Incident Reporting for Critical Infrastructure Act to increase funding for the federal Cybersecurity and Critical Infrastructure Agency. CIRA requires companies in a critical infrastructure sector to notify CISA within 72 hours of a cyber incident.
White House District Of Columbia United States Solarwinds Orion Critical Infrastructure Agency Financial Services

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China: Govt buying stakes in tech firms to increase its influence

As part of the broader strategy of the Chinese Communist Party (CCP) to increase State ownership of private companies and to strengthen the Partys influence, the State-backed firms and regulators are obtaining stakes and representation on the board in technology companies, media reports said.
Jack Ma Truck Alliance China Cyberspace Administration Chinese Communist Party Cyberspace Administration Full Truck Alliance

SEC Proposes Enhanced and Standardized Climate-Related Disclosure Rules

On March 21, 2022, a divided U.S. Securities and Exchange Commission (SEC) proposed enhanced and standardized climate-related disclosure rules to require disclosure of climate-related information in registration statements, annual reports, and the audited financial statements filed with the SEC, by both domestic registrants and foreign private issuers. This client alert summarizes the proposedโ€ฆ
Exchange Commission Division Of Corporation Smaller Reporting Company Carbon Offsets Or Renewable Energy Credits Recs Private Securities Litigation Reform Act Climate Related Risks
Source: wsgr.com

Chinese Communist Party obtaining 'golden share' in pvt companies to increase its influence

In order to increase its influence in the private sector, the Chinese Communist Party have been obtaining a golden share in private companies, especially internet/technology firms holding large amounts of data and operating critical information infrastructure.
Truck Alliance China Cyberspace Administration Chinese Communist Party Cyberspace Administration Full Truck Alliance Data Security

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