Recent developments conclude 2006 on optimistic note
At an extraordinary Board meeting via teleconference held on December 21, 2006, the Swift Board of Directors was briefed on recent developments on the subject of Swift’s compliance with compulsory subpoenas for terrorism investigations by the United States Treasury Department.
The Board welcomes the announcement made earlier this week by European Commission Vice President for Justice, Freedom and Security, Franco Frattini, that he plans to initiate discussions in early January, 2007, with the US Government to address matters surrounding the Swift case.
The Board was also briefed on recent meetings between Swift and data privacy officials from Belgium and the Article 29 Working Party. Swift will be working with its member banks on improving information and transparency and other matters of concern to European data privacy officials.
The Board was also briefed on the decision by the Belgian Federal Prosecutor that he has not pursued legal matters any further. Swift has always maintained it did its utmost to protect its members’ data and to comply with applicable laws in all its jurisdictions.
Swift is pleased that 2006 is ending on these positive notes and wishes all its members around the world a safe and sound holiday season and new year.
Previous statements and stories on compliance
- 29 Nov 2006: US bi-partisan panel "impressed" by Swift’s controls to protect civil liberties
- 23 Nov 2006: Swift strongly objects to advisory opinion from WP 29
- 16 Nov 2006: Swift supports calls for debate to move beyond data privacy to security and public safety
- 24 Oct 2006: New York Times public editor reverses himself on 23 June article
- 8 Oct 2006: Commentary: Swift defends compliance at EU Parliament hearing
- 4 Oct 2006: EU Parliament hearing: Swift statement and press release on compliance
- 28 Sep 2006: Swift supports calls for EU-US talks on security and data privacy
- 25 Aug 2006: Update and Q&A to Swift’s 23 June 2006 statement on compliance: Compliance with subpoenas is legal, limited, targeted, protected, audited and overseen
- 23 Jun 2006: Swift statement on compliance policy: Following recent press coverage, Chairman, Deputy Chairman and CEO provide statement to Swift community