Jersey firms may disclose personal data to the USA SEC in appropriate circumstances
14/05/2021
JOIC confirms Jersey firms may disclose personal data to the United States SEC in appropriate circumstances [20 April 2021]
The Jersey Office of the Information Commissioner has confirmed that Jersey firms may disclose personal data to the United States Securities and Exchange Commission (SEC) in appropriate circumstances.
The United States Securities and Exchange Commission (SEC) sought confirmation from the Information Commissioner that Jersey firms who register with the SEC would be able to transfer personal data necessary for regulatory oversight of their registration.
Information Commissioner Dr Jay Fedorak has responded in a letter (see below) to Acting Chair of the SEC Allison Lee indicating that the Data Protection (Jersey) Law 2018 authorises transfers that comply with all of the conditions stipulated in paragraph 9 of Schedule 3.
These include limiting the personal data transferred to that which is necessary for the regulatory purpose and notifying affected data subjects and the Jersey Office of the Information Commissioner of the transfer.
The SEC currently is not accepting new registrations from jurisdictions, including Jersey, that have adopted GDPR-based data protection laws, pending confirmation that these laws will not inhibit its regulatory functions.
The SEC is currently considering this letter as part of a process of determining whether to permit new registration from Jersey firms. The UK Information Commissioner’s Office has sent a similar letter on behalf of the UK data protection law.
JOIC LETTER TO SEC = Transfers of data from Jersey firms to the U.S. Securities and Exchange Commission =
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.