I worked with US and European financial institutions who regularly requested / needed guarantees that data (not necessary financial data, all sorts of data), who had access to what, and etc.
Most of it all seemed design to ensure that the things / company / people were within a reasonable legal context, sometimes that context was just what country the data was in, the people who worked on it.
Laws provide everyone a framework to know how things might play out if something goes wrong, if someone is in a country that generally doesn't respect those laws all rules are out the window.
I worked with US and European financial institutions who regularly requested / needed guarantees that data (not necessary financial data, all sorts of data), who had access to what, and etc.
Most of it all seemed design to ensure that the things / company / people were within a reasonable legal context, sometimes that context was just what country the data was in, the people who worked on it.
Laws provide everyone a framework to know how things might play out if something goes wrong, if someone is in a country that generally doesn't respect those laws all rules are out the window.