fiduciaries in A Sentence

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    The Bill mandates Fiduciaries to give the government any non-personal data when demanded.

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    Fiduciaries are individuals or companies responsible for administering employee benefit plans or managing assets belonging to another individual or entity.

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    It requires adequate financial disclosures to plan participants and their beneficiaries, provides remedial access to federal courts and guides the conduct of Fiduciaries.

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    While the Bill places this obligation on all data Fiduciaries, it does not specify any principles or guidelines for what constitutes a‘fair and reasonable' manner of personal data processing.

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    The draft had said all Fiduciaries must store a copy of all personal data in India- a provision that was criticised by foreign technology companies that store most of Indians' data abroad and even some domestic startups that were worried about a foreign backlash.

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    In its draft report, accessed exclusively by ThePrint, the committee headed by the former Supreme Court judge has concluded that, in the interest of“effective enforcement and fairness to data Fiduciaries”, the first-of-its-kind data protection law will“not apply to any processing activity that has been completed prior to this law coming into effect”.

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