01/02/2021

Privacy & Infosec Law Blog

UK companies can use public interest derogation for SEC transfers

The ICO recently published its analysis of the application of the UK  GDPR regarding transfers from businesses based in the UK who are registered and regulated by the US Securities and Exchange Commission (SEC), including investment advisers, and securities-based swap dealers. In a letter to the SEC, the ICO stated that such UK firms may rely on the public interest derogation for the transfer under the UK GDPR, allowing them to make transfers without the need to implement a transfer mechanism such as Standard Contractual Clauses. 

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U.S. Securities and Exchange Commission

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