GDPR Archives - Page 8 of 10 - SHIP IP LTD

The GDPR has successfully met its main objectives but work still needs to be done to improve cross-border investigations, increase regulator resources and address fragmented approaches across the EU, according to the European Commission.

The review of the data protection legislation two years on highlights several areas for improvement.

One of the most pressing is the need for harmonization across the region. This is because, although the regulation must be applied across the board, it allows for member states to legislate in some areas and provide specificity in others.

This has led to the “extensive use of facultative specification clauses,” which has made for differences in areas such as the age of children’s consent across different countries, the report claimed.

This could create problems for cross-border business and innovation, especially in tech and cybersecurity innovation, the Commission said.

“A specific challenge for national legislation is the reconciliation of the right to the protection of personal data with freedom of expression and information, and the proper balancing of these rights,” it argued.

“Some national legislations lay down the principle of precedence of freedom of expression, whilst others lay down the precedence of the protection of personal data and exempt the application of data protection rules only in specific situations, such as where a person with public status is concerned.”

Other areas that need continued work include the more efficient handling of cross-border cases and the disparity in “human, financial and technical” resources between many regulators.

This echoes a report issued in April by web browser firm Brave, which claimed that regulators are unable to match the financial might of technology giants like Google and Facebook, which puts them at a distinct disadvantage in investigations.

Only five of Europe’s 28 GDPR regulators have over 10 tech specialists, while half have budgets of under EUR5m. The UK’s ICO, which is the largest and most expensive watchdog to run, has only 3% of its 680 staff focused on tech issues, the report claimed.

Stewart Room, global head of data protection and cybersecurity at DWF, took issue with the Commission’s claim that GDPR has “successfully met its objectives of strengthening the protection of the individual’s right to personal data protection and guaranteeing the free flow of personal data within the EU.”

“A key problem to note is that there is an absence of such evidence on data protection performance levels under the previous legal regime (the 1995 Directive), so, therefore, there isn’t a benchmark available to substantiate progress made under the GDPR,” he argued.

“In contrast, reports of personal data security breaches have not run dry, there are still structural problems in the AdTech environment and with the ceaseless progression of developments in technology, such as facial recognition and AI, there have to be doubts about the ability of the law and the regulatory system to keep up speed.”

This post European Commission: Still Work to Do on GDPR originally appeared on InfoSecurity Magazine.

The European Commission has approved an approximately €80 million (HRK 600m) Croatian scheme to support enterprises active in the maritime, transport, travel, infrastructure and related sectors that have been severely impacted by the coronavirus outbreak. The scheme, comprising two measures, was approved under the state aid Temporary Framework.

The support will take the form of state guarantees on new loans from banks or other financial institutions. The State guarantee will cover up to 90% of the loans. The scheme aims at providing liquidity to enterprises of all sizes affected by the coronavirus outbreak, thus enabling them to continue their activities, start investments and maintain employment. The scheme is expected to support over 1,000 companies.

The Commission found that the Croatian scheme is in line with the conditions set out in the Temporary Framework. In particular, under the first measure, aid does not exceed €800,000 per company. Under the second measure, (i) the loan amount per company is limited to what is needed to cover its liquidity needs for the near future, (ii) the interest rates correspond to the minimum levels laid down in the Temporary Framework, and (iii) the guarantees and loans will be provided until the end of this year, with a maximum duration of six years.

Under both measures, aid may be granted only to companies that were not in difficulty already on 31 December 2019 but were significantly affected by the coronavirus outbreak. The measures also include safeguards to ensure that the aid is effectively channeled by the banks or other financial institutions to the beneficiaries in need. The Commission concluded that the measures are necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions of the Temporary Framework.

On this basis, the Commission approved the measures under EU state aid rules. The non-confidential version of the decision will be made available under the case number SA.57711 in the state aid register on the Commission’s competition website once any confidentiality issues have been resolved.

Source: eureporter

HAIFA, Israel, July 1, 2020 (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or “the Company”) announced today that it was awarded a contract valued at approximately $53 million to provide and integrate intelligence suites onboard vessels of the Navy of a country in Southeast Asia. The contract will be performed over a two-year period.

Under the contract Elbit Systems will equip several vessels with suites that provide the capability to perform complex reconnaissance missions, generating an operational picture of the air, surface and underwater domains. Elbit Systems will supply and integrate comprehensive suites comprised of an array of systems from across the Company’s maritime portfolio, including: AES-212 electronic intelligence systems, NATACS naval tactical communication intelligence systems and jamming capabilities, SPECTRO XR™ electro-optical payloads, M670 hull mounted sonars, TRAPS towed reel-able active/passive sonars, underwater communication systems and combat management systems.  The program also includes maritime radars and satellite communication capabilities. In addition, the Company will provide training services.

Elad Aharonson, General Manager of Elbit Systems ISTAR Division, said: “There is growing demand for our maritime solutions. I believe that the unique combination of a diverse portfolio of operational systems and groundbreaking technological innovation enables us to effectively address the evolving needs of maritime forces.”

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

SOURCE Elbit Systems Ltd.

The European Commission has approved a €600 million Finnish aid scheme to support the maritime companies in the context of the coronavirus outbreak. The scheme was approved under the state aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April and 8 May 2020.

Under the scheme, the public support will take the form of state guarantees on working capital loans. The measure will be directly operated by the Finnish State Treasury. The scheme will be accessible to those maritime operators that are essential for maintaining the security of supply to Finland during the coronavirus outbreak. The aim of the measure is to help these companies cover their immediate working capital needs, maintain employment and have sufficient liquidity to continue their activities, which are vital to safeguard maritime cargo traffic and ensure essential supplies to Finland. The Commission found that the Finnish measure is in line with the conditions set out in the Temporary Framework.

The Commission concluded that the Finnish measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measure under EU state aid rules.

Executive Vice President Margrethe Vestager, in charge of competition policy, said: “This €600m Finnish guarantee scheme will help those maritime companies that transport essential supplies to Finland and are affected by the current coronavirus crisis to cover their immediate working capital needs and continue their activities. This is the first scheme we have approved specifically designed to support the maritime sector in these difficult times. We continue to work closely with all member states to ensure that national support measures can be put in place in a timely, coordinated and effective way, in line with EU rules.”

The full press release is available online.