CyberLex
CyberLex Insights on cybersecurity, privacy and data protection law

Tag Archives: Big Data

U.S. Consumer Protection Regulator Consults on Use of Alternative Credit Data

Posted in Big Data, Financial, FinTech

On February 16, 2017, the U.S. Consumer Financial Protection Bureau (the “CFPB”) issued a Request for Information (“RFI”) seeking feedback from the public on the use or potential use of alternative data and methodologies to assess consumer credit risk, thereby expanding access to credit for credit invisible segments of the population. Presently, most lenders make… → Read More

U.S. Federal Insurance Office Issues Report Addressing InsurTech and Traditional Insurance

Posted in Big Data, Cybersecurity, Discrimination, FinTech

The Federal Insurance Office, U.S. Department of the Treasury (“FIO”) released its first annual Report on Protection of Consumers and Access to Insurance (the “Report”). The Report reviews developments and concerns relating to five insurance issues: technology; environmental hazards; fairness in insurance practices; fairness in state insurance standards; and retirement and related issues. The Report… → Read More

Canada’s Competition Commissioner Emphasizes Innovation, Highlights Fintech Market Study

Posted in Big Data, Financial, FinTech

Canada’s Commissioner of Competition, John Pecman, spoke on October 6th, 2016 to the Canadian Bar Association’s Competition Law Fall Conference, addressing the link between competition and innovation and providing updates on the Fintech market study launched by the Competition Bureau earlier this year. Competition Drives Innovation The Commissioner noted that new disruptive technologies challenge not… → Read More

FinTech in Canada: A Report Studying The Canadian FinTech Ecosystem

Posted in Big Data, Financial, FinTech

“FinTech in Canada: British Columbia Edition” brings insight from more than a hundred stakeholders in the Canadian FinTech sector on challenges and opportunities, provides a comparative overview of the FinTech ecosystem in Canada and 16 other countries, including the U.K., U.S. and Australia and offers recommendations to advance FinTech in Canada. The Digital Finance Institute… → Read More

Monetizing Data: Seizing Opportunities, Managing Risk – – Please Join Us Wednesday, September 28, 2016 for a McCarthy Tétrault Advance™ Seminar

Posted in Big Data, Privacy

Collect all the data. Store all the data. Once you’ve got a massive reservoir of data, you’ll be able to answer all the questions the business wants to ask, right? Bonus: Anonymize the data, package it all and sell it (or insights from it), thereby driving revenue and leapfrogging over the competition. Not so fast…. → Read More

RegTech Stepping Forward: UK Financial Services Regulator Publishes Results on RegTech Consultation

Posted in Big Data, Financial, FinTech, Privacy, Regulatory Compliance

What is RegTech? The UK’s financial prudential regulator, the Financial Conduct Authority (the “FCA”), has recently published its Feedback Statement on Call for Input: Supporting the development and adopters of RegTech, where it outlined the result of its earlier Call for Input on how to support the development of “RegTech”. “RegTech” is defined by the… → Read More

Privacy Commissioner Seeks Public Input on Consent Model

Posted in Big Data, Internet of Things, Legislation, Privacy

On May 11, 2016, Privacy Commissioner Daniel Therrien announced the Office of the Privacy Commissioner of Canada (“OPC”) would seek public input on the issue of how Canadians can give meaningful consent to the collection, use and disclosure of their personal information in an increasingly digital age. The OPC has released a discussion paper (“Report”)… → Read More

U.S. Treasury Issues Marketplace Lending White Paper

Posted in Big Data, FinTech, Payments

In response to the U.S. Department of the Treasury’s (“Treasury”) July 20, 2015 request for information on online marketplace lending (the “RFI”), Treasury issued its white paper on marketplace lending “Opportunities and Challenges in Online Marketplace Lending” (the “White Paper”) on May 10, 2016. The White Paper outlines the risks and potential of this emerging… → Read More

Competition Bureau to Increase Scrutiny of Data-Driven Businesses

Posted in Big Data

In a May 25, 2016 speech given at the offices of McCarthy Tetrault, the Commissioner of Competitor John Pecman signalled that the Competition Bureau will be heightening its scrutiny of data-driven businesses, particularly those using Big Data techniques analytics. While supporting “ the emergence of innovative business models in the digital economy”, Pecman noted that… → Read More

Insights from the I Spy conference on Big Data and Privacy

Posted in Big Data, Privacy

On Friday February 5, 2016, we attended the I Spy: Opportunities and Challenges Surrounding Privacy and Big Data conference organized by the Osgoode JD/MBA Students’ Association. Speakers from industry, government and private practice explored the challenge organizations face in maximizing insights from big data while maintaining a respect for individual privacy. While we often see… → Read More

Big News for Big Data – European Data Protection Supervisor Releases Opinion on Big Data Challenges

Posted in Big Data, European Union, Privacy

On November 19, 2015, the European Data Protection Supervisor (“EDPS”) published an Opinion entitled Meeting the Challenges of Big Data: A Call for Transparency, User Control, Data Protection by Design and Accountability. Focusing on these issues, the report lays down the foundation for a new approach to how big data should be managed in order… → Read More