Please join us on February 26 for the next installment of the Morgan Lewis M&A Academy, where technology, outsourcing, and commercial transactions partners Mike Pierides and Anastasia Dergacheva, and intellectual property partner Ksenia Andreeva will discuss the intricacies of drafting data protection provisions in outsourcing and other services transactions.
NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
Please join us on February 25 for the next installment of the Morgan Lewis M&A Academy, where technology, outsourcing, and commercial transactions partners Vito Petretti and David G. Glazer will discuss key considerations in structuring and negotiating transition services agreements in the context of M&A transactions.
Morgan Lewis has recently issued several LawFlashes on the 2019 Novel Coronavirus (COVID-19) outbreak, providing a number of resources for businesses across the globe dealing with various compliance challenges and unanswered questions. In this rapidly changing situation, for example, employers must carefully balance concerns related to employee and public safety with protecting employees from unnecessary medical inquiries, harassment, and discrimination.
To help guide companies through this multifaceted public health crisis, Morgan Lewis has launched Responding to the 2019 Novel Coronavirus to keep on top of developments as they unfold.
Please join us on February 18 for the next installment of the Morgan Lewis M&A Academy, where technology, outsourcing, and commercial transactions partner Doneld G. Shelkey, litigation partner Ezra D. Church, and labor and employment partner Lee Harding will discuss key privacy and security issues in both corporate and commercial contexts. Topics will include:
- Regulated industries
- Impact on cross-border deals
- Security issues in M&A deals
- Privacy issues in M&A deals
The Morgan Lewis M&A Academy, a 24-part series of tailored webinars led by a diverse team of firm lawyers, provides a comprehensive M&A overview and is ideal for learning about the latest M&A issues and developments. It is geared not only toward M&A professionals but also toward specialists with particular areas of focus (e.g., benefits, intellectual property, tax), whether they deal with M&A issues regularly or occasionally.
We hope you’ll join us on Tuesday, February 18, 2020, from 12:30–1:30 pm ET.
The US Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) published a report on January 27 outlining various industry practices and approaches to managing and combating cybersecurity risks and maintaining operation resiliency. The OCIE observed these practices through conducting thousands of examinations, and hopes that organizations can use the report to enhance their own cybersecurity preparedness and operational resiliency.
Washington may be the next state to enact its own data privacy law after a bill was introduced into the Washington State Senate earlier this month. Known as the Washington Privacy Act, the bill’s sponsor, Sen. Reuven Carlyle, stated at a press conference that lawmakers had reached “95 percent agreement in principle on the core elements of the bill.” If enacted, the act would add to the complex regulatory framework governing data privacy, including the California Consumer Privacy Act (CCPA), which took effect on January 1, 2020.
The act would apply to legal entities conducting business or producing products targeted to Washington State residents and that (1) control or process personal data of more than 100,000 consumers or (2) derive 50% of gross revenue from the sale of personal data and process or control the personal data of more than 25,000 consumers.
In a recent Wall Street Journal article, cybersecurity journalist Catherine Stupp drew attention to the massive surge in internet-connected devices expected to be in use by the end of 2020. This increase in the Internet of Things, which refers to internet-connected devices ranging from televisions and automobiles to fitness tools and medical devices, presents several challenges to the world of cybersecurity.
The article not only urges manufacturers of internet-connected devices to apply cybersecurity techniques to increase security, but also asks large companies buying devices to incentivize good security practices by only purchasing devices with proper safeguards. The California Consumer Privacy Act, which took effect January 1, 2020, takes a step in the right direction by no longer allowing manufacturers to sell internet-connected devices with weak default passwords. Stay tuned for future developments as cybersecurity races to keep pace with the growth of connected devices.
The United States and the United Kingdom entered into the world’s first ever Clarifying Lawful Overseas Use of Data Act (CLOUD Act) agreement on October 3, 2019 (the Agreement). The Agreement, which will enter into force later this year after review by lawmakers in both countries, allows each country’s law enforcement agencies to demand, with proper authorization, electronic data regarding serious crime (defined in Article 1 of the Agreement as an offense punishable by a maximum term of imprisonment of at least three years) directly from technology companies based in the other country.
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).
Open Banking is developed and delivered in the United Kingdom by the Open Banking Implementation Entity (OBIE). The OBIE was established by the CMA and is funded by the CMA9. The CMA’s UK Retail Banking Market Investigation Order 2017 (Order), which applies only to the CMA9, requires the CMA9 to provide their customers with the ability to access and share their account data on an ongoing basis with TPPs through the use of specified application programme interfaces (APIs). This compliments the reforms under the EU’s Second Payment Directive (as transposed in the United Kingdom primarily by the Payment Services Regulations 2017), which requires all payment account providers to permit open access to payment accounts for authorized TPPs, but which does not specify the means of access or prescribe the scope of access in any detail.
Please join us for a dynamic webinar on hot issues impacting the structuring and negotiation of ecommerce contracts in 2020. Donald G. Shelkey and Eric Pennesi of our Technology, Outsourcing and Commercial Transactions practice will present and lead discussions on topics including:
- Privacy and Security
- Deals We Expect to See: An Integration Infection!
- 2020 Market Positions
The webinar will take place on Wednesday, December 11, 2019, from 12:00–1:00 pm (Eastern Time). Register here.