Open Banking is an initiative mandated by the UK’s Competition and Markets Authority (CMA) in 2017. It is intended to facilitate better competition in the banking sector by mandating protocols that facilitate the secure sharing of customer-related data of the nine largest banks in the United Kingdom (CMA9) with third-party providers (TPPs).
Tech & Sourcing @ Morgan Lewis
TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
In this contract corner, we consider the concepts of “good faith” in commercial contracts under English law.
Set out below are 10 contractual mechanisms for providing meaningful performance commitments and consequences if the commitments are not met. Maybe you will not need to invoke these mechanisms, but having firm rules may help drive good behavior (you know the old adage, “good fences make good neighbors”).
As our loyal Tech & Sourcing readers know, we have been doing our best to keep you informed about the requirements of the California Consumer Privacy Act (CCPA) and what you can do to prepare as its January 1, 2020, effective date draws near. Continuing that vein, we invite you to an upcoming webinar wherein Morgan Lewis partners Reese Hirsch, Mark Krotoski, and Carla Oakley and associate Kristin Hadgis will provide an overview of the latest amendments to the CCPA, the state of the law and related regulations, and practical perspectives on CCPA compliance.
The California legislature passed five bills on September 13 to amend and clarify the scope of the California Consumer Privacy Act (CCPA). If the amendments are signed by the California governor by the October 13 deadline, they will become part of the CCPA, set to take effect on January 1, 2020.
Partner Barbara Melby, the leader of our technology, outsourcing, and commercial transactions practice, will be presenting “Intellectual Property Issues in Outsourcing” at Practising Law Institute’s (PLI’s) upcoming Outsourcing 2019: Innovation and Disruption program.
A recent LawFlash by Morgan Lewis partners Ksenia Andreeva and Vasilisa Strizh and associate Anna Pirogova discusses a draft law proposed in Russia that would introduce heavy fines for violations of Russia’s data protection law and a variety of internet activity laws.
Cybersecurity continues to be an issue at the forefront of many of our contract negotiations. Though not typically included in the “data security” section of an agreement, the level and scope of cyberinsurance coverage often plays an important factor in the discussions between customer and vendor.
The January 1, 2020, deadline to comply with the California Consumer Privacy Act (CCPA) is fast approaching. Signed into law in the summer of 2018, the CCPA creates a variety of new consumer privacy rights and will require many companies to implement policies and procedures to manage and comply with new consumer-facing responsibilities. Catch up on the details of the CCPA in our previous post, this LawFlash, and the Morgan Lewis CCPA resource center.
In a recent Law360 article, Morgan Lewis lawyers Gregory Parks, Kristin Hadgis, and Terese Schireson discussed the recently passed bill in Nevada – Nevada Senate Bill 220 (SB 220) – that will require defined “operators” of websites or online services that are used for commercial purposes and collect personal data of Nevada consumers to comply with a consumer’s request not to sell personal information. SB 220 will be the first law of this scope in the United States that provides consumers with opt-out rights with respect to the sale of their data.