Technology has had a transformative impact on our everyday lives, and continues to reshape the way businesses operate and interact with their customers. Yet the legal and regulatory industries have not fundamentally changed – at least not yet. But this is about to change. The rise of LawTech and RegTech promises to not only transform these centuries old professions, but also enable us to completely rethink and redesign the very basic concepts of trust, contracts, regulatory compliance, and access to justice. With that in mind, this introductory article explores how RegTech and LawTech are increasingly becoming central to overall digital transformation and compliance strategies.
A loud and clear warning shot has just been fired. On 21 January 2019, France’s data protection regulator, CNIL, slapped Google a €50 million fine for failing to comply with its General Data Protection Regulation (GDPR) obligations. This is the biggest GDPR related fine yet to be issued by a European regulator since the new rules came into force in May last year.
CNIL said it had levied the record fine for Google’s “lack of transparency, inadequate information and lack of valid consent regarding ads personalisation” in relation to the Google accounts created during the configuration of a mobile phone using the Android operating system. The regulator said it judged that the users of Android mobile phones were “not sufficiently informed” about how Google collected data to personalise advertising. Google has released a statement saying that it will appeal against this ruling.