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Quotes of the Week on the launch of GDPR: D. Reed Freeman Jr., a privacy and cybersecurity expert at
 
May 27 · Issue #90 · View online
Brainfood
Quotes of the Week on the launch of GDPR:

  • D. Reed Freeman Jr., a privacy and cybersecurity expert at WilmerHale talking on the launch of GDPR in Europe: “It’s time to put on your seatbelt and check your airbag… It’s kind of like a lift-off with a rocket. It’s about to launch.”
  • U.K. Information Commissioner Elizabeth Denham: “We pride ourselves on being a fair and proportionate regulator and this will continue under the GDPR… Those who self-report, who engage with us to resolve issues and who can demonstrate effective accountability arrangements can expect this to be taken into account when we consider any regulatory action.”
  • Viviane Reding, former Vice-President of the European Commission when GDPR was first initiated in 2012: “The Facebook Cambridge Analytica scandal, if it had happened on May 26th, this year, would have cost billions of euros to Facebook, among others. You cannot hand over the personal data of citizens without having asked if the citizens agree that you hand it over. And you cannot steal it and just tell them after. That is not possible anymore, according to the new law. If you do, then the penalties will be very, very severe.”
  • Jan Philipp Albrecht, MEP and former rapporteur for the EU General Data Protection Regulation on the LIBE Committee: “For the last ten years, there was no chance to be on an eye level with the big Internet companies from Silicon Valley… With GDPR, this will change… The power of consumers has not really started.”

Motive Podcasts
Last week we spoke to Nigel Vooght (former Global leader for financial services, PwC). Listen to previous episodes with our esteemed guests and Partners via the links below:
The Future of Finance by Motive Labs on Apple Podcasts
The Future of Finance by Motive Labs on Android
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Insurance customers increasingly open to Big Tech
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Digital banking transformation creating new systemic risks
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“Tokenomics” – Is it time to revisit the crypto anarchy and achieve collaborative financial services?
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Regulation
EU data privacy law goes into effect amid confusion
The G.D.P.R., Europe’s New Privacy Law, and the Future of the Global Data Economy
UK payments community calls on Open Banking to do more to enable access for FinTechs
Singapore Proposes Regulatory Boost for Decentralized Exchanges
How ADGM’s Financial Services Regulatory Authority is embracing FinTech
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