California Privacy Laws for Asset Managers

We are pleased to introduce a new Ropes & Gray podcast series, California Law for Asset Managers, which explores California state laws of importance to asset managers.

This series will examine California state privacy, lobbying, fee disclosure and other laws that are relevant to asset managers that are, or are thinking about becoming, active in the state. California’s privacy laws can implicate a wide range of managers—from those based in the state to those that simply have California investors. And given the importance to many sponsors of partnerships with state and local pension plans, two episodes will focus on lobbying and fee disclosure issues that asset managers must grapple with when dealing with these plans. We will look to provide updates on these matters and insights into other relevant California law matters for asset managers in later podcasts.

On this opening episode, asset management counsel Catherine Skulan is joined by data, privacy & cybersecurity counsel Kevin Angle to discuss recent developments in California privacy law. Catherine and Kevin delve into the implications for asset managers of the California Consumer Privacy Act (CCPA) of 2020 and its amending legislation, the California Privacy Rights Act (CPRA), which becomes enforceable for violations on or after July 1, 2023.