TECHNOLOGY, OUTSOURCING, AND COMMERCIAL TRANSACTIONS
NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
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).
The Clearing House (the oldest banking association and payments company in the United States) recently released a model agreement as a voluntary starting point to facilitate data sharing between financial institutions and fintech companies.
The EU Commission issued its report on the third annual review of the functioning of the EU-US Privacy Shield (Privacy Shield) on October 23.
A recent ruling by the Court of Justice of the European Union (CJEU) established that companies seeking to store “cookies” that are used to track online browsing behavior must obtain “active consent.” The ruling is likely to cause angst among companies, which often maintain websites that are not set up to obtain active consent, as well as with internet users who are increasingly frustrated by having to continually provide consent while visiting websites.
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.
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.

The Stop Hacks and Improve Electronic Data Security (SHIELD) Act was signed into New York law by Governor Andrew Cuomo on July 25, after passing the New York State Assembly on June 17. The SHIELD Act takes effect on March 21, 2020, and will modernize New York’s current laws governing data breach notification and data security requirements with the intention of providing greater protection for consumer's private information, while holding companies accountable for providing such protections.

GDPR: Year 2

By Emily R. Lowe
// 2019年7月3日
The European General Data Protection Regulation (GDPR) took effect in May 2018, requiring companies that handle or process EU residents’ personal information to conform to practices that seek to more fully protect consumer sensitive information.
In this month’s Contract Corner, we are highlighting considerations for drafting an up-to-date privacy policy.