Compliance officers at multinational banks face rising conflicts between U.S. data provision requirements and European Union data protection requirements, and tough challenges to resolve these, lawyers have said. The pending EU data protection regulation will make the risks of non-compliance much worse, unless an article which would require EU banks to get permission from their own regulator before giving information to U.S. banks is removed the lawyers said. Meanwhile, they said, there is a risk that client data might have to be disclosed to the U.S. authorities even when it is not held in the U.S., because multinational banks will not want to offend U.S. authorities, including their regulators. "The constant dilemma for compliance officers of multinational banks is to comply with EU regulations on potential data, but also with U.S. requests for data under a different regime. It's difficult for compliance officers to address the conflicts that can arise," Jane Finlayson-Brown, partner,
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