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Kristian Stout headshot

Director of Innovation Policy

Kristian Stout, ICLE's Director of Innovation Policy is an expert in intellectual property, antitrust, telecommunications, and Internet governance. Kristian has been a Fellow at the Internet Law & Policy Foundry, as well as the Eagleton Institute of Politics. Before practicing law, Kristian worked as a technology entrepreneur and a lecturer in the Computer Science Department at Rutgers University.

R.J. Lehmann headshot

Editor-in-Chief and Senior Fellow

R.J. Lehmann is Editor-in-Chief and Senior Fellow at ICLE. He is responsible for crafting and executing ICLE’s editorial strategy and managing its publication calendar. He was previously Director of Finance, Insurance, and Trade Policy for the R Street Institute, which he co-founded in June 2012.

Financial Regulation

Financial Regulation International Trade Payments & Payment Networks


Transatlantic Data Flows Are Crucial to Global Financial Services


Data is one of the pillars of the modern digital economy, but its value is contingent on its ability to flow around the globe in real time, permitting individuals and firms to develop new and novel insights and to operate at higher levels of efficiency and safety.


Those data flows increasingly run into barriers when they seek to cross national borders. These often take the form of “data-localization” requirements to locate, store, and/or process data within national boundaries.


Data-localization policies are often framed as necessary to protect critical digital infrastructure and national-security interests, but they serve instead as trade barriers that hurt consumers more than they help. An examination of the impact on the financial services industry helps to illustrate the problem.

Read the full explainer here.