Archive: February 11, 2019

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Massachusetts State Senators Seek to Enact Biometric Data Protection Law
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Global Financial Innovation Network Launch

Massachusetts State Senators Seek to Enact Biometric Data Protection Law

By Andrew C. GlassGregory N. Blase and Daniel S. Cohen

The rise of Big Data and the development of tools to interpret massive data sets to better understand consumer behavior have led to booming demand for consumers’ personal information.  Technological advances have also made biometric data, such as fingerprints and facial features, useful security tools for electronic devices. The growing use of Big Data and biometric data has caused some concern among consumers and policymakers.  In response, several state legislatures have taken steps to regulate companies’ ability to acquire personal and biometric data.

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Global Financial Innovation Network Launch

By Jonathan Lawrence

The Global Financial Innovation Network (GFIN) has been formally launched by an international group of financial regulators and related organisations. The GFIN is a network of 29 organisations of which 17 are currently offering cross-border trials for firms wishing to test FinTech products, services or business models across more than one jurisdiction. Those offering trials include the UK Financial Conduct Authority, the Australian Securities & Investments Commission, the Hong Kong Monetary Authority, the Hong Kong Securities and Futures Commission, the Monetary Authority of Singapore and the Dubai Financial Services Authority. GFIN members that are not participating in the initial trial scheme include the Consumer Financial Protection Bureau, the Abu Dhabi Global Market, the Israel Securities Authority and the Jersey Financial Services Commission.

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