President Biden issued an Executive Order March 1 titled “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern.”
The order directs the attorney general, in coordination with the secretary of Homeland Security and in consultation with the heads of relevant agencies, to issue regulations that prohibit or otherwise restrict Americans from engaging in any transaction of, or dealing in any property in which a foreign country or national thereof has any interest, involving bulk sensitive personal data. The order noted that “bulk sensitive personal data” will be defined by further regulations from the attorney general.
Essentially, the order authorizes the attorney general to prevent the large-scale transfer of Americans’ personal data to countries of concern and offers safeguards around other activities that can give these countries access to this sensitive data. The order also directs pertinent federal agencies to prohibit data brokers from selling bulk health and genomics data to the countries of concern.
The attorney general is specifically directed to exclude provision of financial services, including financial insurance. The exemption will likely insulate many companies engaged in ordinary business activities like sharing financial account information and for “risk-management purposes” from being significantly affected by the regulations as currently proposed.
NAMIC will monitor the actions of the attorney general to ensure that the requisite regulations do not impose undue restrictions on NAMIC member companies.
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Publish Date
March 4, 2024
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- Washington Weekly
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