Posted: 6 Apr 2022 Resource Type: Research Report Download Back As the pace of technological innovation accelerates and the sharing of data across borders is more prevalent, the collection, creation, use, transfer, and protection of data is increasingly subject to legal, regulatory, political, and societal scrutiny. Financial services are key to helping facilitate the global economic recovery, and in the global digital economy, this is reliant on timely access to data. Facilitating safe and practical methods to ensure data is protected needs new tools to be developed to support the reality of global and dynamic data flows. However, achieving compliant data sharing is increasing complex, costly and risky. The current mechanisms are heavily focused on legal, binary and simplistic data transfer scenarios (i.e. via contracts) or adequacy assessments (of which there are very few, takes years to implement and can be revoked). The IRSG has published a new report exploring the current trajectory of current data transfer restrictions, and the impact that this could have on financial services firms and their customers. The paper also propose a number of recommendations as to actions and measures that can be taken to better achieve a consistent level of protection to allow data flows today and in the digital world of the future. Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Download Related content Research Report A roadmap for the adoption of ISSB Standards Mar 2025 - This report explores key regulatory and legislative considerations for effective adoption of ISSB Standards. A roadmap for the adoption of ISSB Standards Research Report Financial Services Priorities for the Italian G7 and Brazilian G20 Presidencies Mar 2024 - This IRSG report sets out the three priority areas, and corresponding recommendations the Italian G7 and Brazilian G20 presidencies should focus on. Financial Services Priorities for the Italian G7 and Brazilian G20 Presidencies Research Report Code of Conduct for ESG Ratings and Data Products Providers Dec 2023 - Code of Conduct for ESG Ratings and Data Products Providers aims to foster a trusted, efficient and transparent market. Code of Conduct for ESG Ratings and Data Products Providers Research Report Anti-Money Laundering and Beneficial Ownership Dec 2023 - Anti-Money Laundering and Beneficial Ownership explores the goal of a robust and effective anti-money laundering regime and sets out seven recommendations. Anti-Money Laundering and Beneficial Ownership