Data sovereignty: Compliance complex
IP & TMT partner Gabriela Kennedy (Hong Kong) is quoted by AVCJ on data sovereignty.
“Many companies in Asia Pacific have developed processes that comply with very high benchmarks like GDPR and apply that across multiple jurisdictions. The difficulty with that is you have a patchwork of legislation in Asia that is different to GDPR and constantly changing,” Gabriela said.
“You can no longer just say that if you have sorted out your compliance in the US and Europe that should suffice. Given the increase in business in Asia Pacific for many PE firms and the shifting sands of regulation here, a new focus should now be on this part of the world – especially given the trend toward sanctions for non-compliance tied to annual turnover.”