Half of public company directors say their boards lack insight into emerging technologies affecting their industry, and they often rely too heavily on management to stay current, finds a new survey from Ernst & Young. Corporate general counsel are well positioned to get their boards up to speed and help guide the organization to tech investments that will advance efficiencies, as well as minimize the potential risk of hasty technology adoption. General counsel can bridge the divide by “[making] sure that not only the board, but management, is getting some type of external perspective so they can sufficiently address the […]
Category Archives: Information Governance
The largest regulatory fine leveled against a company since the General Data Protection Regulation was enacted in May 2018 is poised to reshape business compliance practices across industries. In late January, CNIL fined a big-tech giant nearly $57 million, citing what the French data-protection regulator saw as failure to meet the core requirements of informed consent under GDPR. As the decision goes through appeal, the debate is far from settled about what constitutes informed consent in personal data collection. Nor will the scythe cut only the tallest grass. Read the full report.
Recent cyber attacks on major U.S. businesses and government agencies are putting pressure on general counsels to help fortify internal data protocols. Beyond recent attacks against dozens of U.S. corporations and agencies, companies also face the escalating threat of financial liability. Earlier this year, former executives of a major web services provider agreed to pay $29 million to settle assertions they did not live up to their fiduciary duties in safeguarding customer data during cyber attacks between 2013 and 2016. Read the full report.
The need for a global view of information is emerging. In the late 1800s, the art world saw a new painting technique in which small dots, applied in patterns, created an entire visual display only discernable when the viewer stepped back. Similarly, enterprises today can only glean their full information picture by looking beyond single data points, housed in siloed departments. Enterprises must scan vast data held across their organization and with global partners to effectively create, store, track, transfer, and, where mandated, destroy data. Read the full white paper.