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Financial Services Law Insights and Observations

OECD Revises Privacy Guidelines

Privacy/Cyber Risk & Data Security

Privacy, Cyber Risk & Data Security

Recently, the Organization for Economic Cooperation and Development (OECD) released updates to its privacy guidelines, with a focus on (i) practical implementation of privacy protection through risk management, and (ii) addressing the global dimension of privacy through improved interoperability. The revised guidelines, which the OECD describes as the first update of the original 1980 version that served as the first internationally agreed upon set of privacy principles, incorporate new concepts related to (i) national privacy strategies, (ii) privacy management programs, and (iii) data security breach notification. The new guidelines also reflect the organization’s modern views with regard to trans-border data flows, organizational accountability, and privacy enforcement.

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