White & Case LLP and Mesirow Financial Consulting, LLC Host Program on “EU Data Privacy Compliance: Practical Strategies for Processing Imported European Data Legally,” Focusing on Compliance by U.S.-Based Multinational Companies with Europe’s Draconian Data Privacy Laws

Hedge fund managers operating globally face a variety of overlapping legal regimes.  Few of those regimes are as cumbersome, counterintuitive and rife with pitfalls as the European Union laws relating to data privacy.  EU privacy laws go well beyond U.S. privacy laws, and in some case can even give rise to conflicting obligations.  To help explicate this complicated terrain for global hedge fund managers and other types of U.S.-based companies with international operations, White & Case LLP and Mesirow Financial Consulting, LLC hosted a seminar on May 25, 2010 entitled “EU Data Privacy Compliance: Practical Strategies for Processing Imported European Data Legally.”  This article outlines the key topics discussed at the seminar, focusing on those most relevant to hedge fund managers, including the details of the EU data privacy directive, specific strategies for transferring data from the EU to the U.S., specific compliance strategies for U.S.-based global hedge fund managers and the interaction of EU data privacy laws and Sarbanes-Oxley requirements.

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