Tech & Sourcing @ Morgan Lewis

TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
The US Securities and Exchange Commission (SEC) on March 9 proposed new rules to enhance and standardize disclosures relating to the risk management, strategy, governance, and incident reporting requirements of cybersecurity applicable to public companies (registrants).
Join partners Mark L. Krotoski, Charles M. Horn and associate Martin Hirschprung at 1:00 pm ET on March 15, 2022 as they provide a summary of the existing and developing requirements faced by “banking organizations” following the publication of a final rule to notify their primary federal regulator within 36 hours in the event of certain kinds of computer-security-related incidents.
The White House issued an executive order on March 9 relating to the responsible development of digital assets in the United States. This executive order outlines the first ever whole-of-government approach to both addressing the risks of digital assets and maximizing the potential benefits.
The UK Financial Conduct Authority (FCA) released a statement on February 14 confirming a series of changes to potentially unfair contract terms that had been agreed with four of the largest providers of Buy Now, Pay Later (BNPL) products operating in the United Kingdom.
The Bank of England (Bank) and the UK Financial Conduct Authority (FCA) published their final report of discussions from the UK Artificial Intelligence Public-Private Forum on February 17. Over quarterly meetings and several workshops conducted since October 2020, the Bank and the FCA jointly facilitated dialogue between the public sector, the private sector, and academia in order to deepen their collective understanding of artificial intelligence (AI) and explore how to support the safe adoption of AI. This initiative was incorporated into the UK National AI Strategy.
The Morgan Lewis M&A Academy continues on February 22 with the next presentation in “Track 2 | Getting the Deal Done – Specialists Matter” regarding key issues and considerations when companies are buying or selling technology assets. As technology and sourcing professionals, it is important to stay up to date on M&A market trends and deal issues relating to technology transfers.
On Tuesday, February 8, Morgan Lewis partner Doneld Shelkey and associates Christopher Archer, Oliver Bell, and Benjamin Klaber will discuss Non-Fungible Tokens (NFTs) and the legal issues they present as part of the Digital Disruption and Innovation webinar series.
Various Chinese regulators announced a blanket ban on all cryptocurrency transactions and mining, the latest in a concerted effort to address illicit activities conducted using digital assets. The announcement on September 24, 2021, authored by a group of agencies including the China Securities Regulatory Commission and the People’s Bank of China, among others, represents the government’s most direct and sweeping action against cryptocurrencies to date. “Virtual currency derivative transactions are all illegal financial activities and are strictly prohibited,” the People’s Bank of China said on its website.
As part of our Spotlight series, we connect with Jeff Boujoukos, the leader of Morgan Lewis’s securities enforcement practice, to discuss the current and future state of affairs of the regulation and enforcement activities of the US Securities and Exchange Commission (SEC) regarding cryptocurrency and initial coin offerings. Jeff points to recent cases and statements that may impact and shape the cryptocurrency market going forward.