Regulatory Update Series
[Webinar] Regulation of Cross Border Personal Data Flow within the Greater Bay Area (“GBA”)
In September 2021, Cross-boundary Wealth Management Connect in the GBA was officially launched to enable residents in Hong Kong, Macau and 9 cities in Guangdong Province to carry out cross-boundary investment in wealth management products distributed by financial institutions in the area.
One of the regulatory challenges a financial institution would face is the need to transfer personal data of clients to and from Hong Kong to China/Macau. Hence it is important to understand the restrictions on the flow of personal data across borders in the GBA.
By the end of this webinar, participants would know:
- the data privacy protection framework and requirements of The Personal Information Protection Law in China and the Personal Data Protection Act in Macau; and
-restrictions on transfer of personal data across borders within the GBA.
The speaker will highlight some compliance strategies for navigating the data privacy laws in Hong Kong, Macau and China, namely:
1. Personal Data (Privacy) Ordinance in Hong Kong
2. Personal Data Protection Act in Macau
3. Personal Information Protection Law in China
Who should attend
Target audience includes senior management, compliance officers, credit officers, risk managers, operations managers, internal auditors, in house counsel, etc.