ACA has been made aware of important information confirming the SEC is only considering registration of firms located in the UK and not also the EU. The updated alert can be found here.
The SEC’s comfort with document production as described in our original alert resulted from an analysis by the UK’s Information Commissioner’s Office (“ICO”). The ICO was asked by an industry working group to provide its view as to the application of certain GDPR provisions as they apply to UK firms, and thus the SEC’s willingness to consider registrations of firms governed by GDPR only extends to the UK at this time.
The working group included representatives from UK governing bodies, industry associations, legal and consulting firms.
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