Tech & Sourcing @ Morgan Lewis

For years, there has been a persistent trend toward outsourcing retirement plan recordkeeping and other administrative responsibilities. Although historically more prevalent for defined contribution plans, this outsourcing trend has been accelerating for defined benefit plans thanks, in part, to the prevalence of frozen plans (i.e., no more benefit accruals) and the potential for administrative cost savings.

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.

As mentioned in our recent blog post, Morgan Lewis, led by technology, outsourcing and commercial transactions partner Mike Pierides, hosted a roundtable on aviation technology contracts and issues on November 14 at the PSS2019: Retail Excellence conference. The roundtable included representatives from airlines, airline industry professionals, and technology suppliers.

The German Federal Office for Information Security (BSI) has determined the suitability of an industry-specific security standard (B3S) with which hospitals can align their IT security measures. The B3S standard was developed by the German Hospital Association (DKG).

The importance of cybersecurity in the autonomous vehicle setting is well known, but nuance and complexity will be on our LiDAR (a pulsed laser that measures ranges) where the rubber meets the road.

As mentioned in our recent blog post, the National Collegiate Athletic Association (NCAA) had been steadfast in its opposition to California’s recently enacted Senate Bill 206, known nationally as the “Fair Pay to Play Act,” which aims to allow collegiate student athletes to benefit financially from the use of their name and likeness and enter into licensing contracts.

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.

Please join us for the next installment of the Morgan Lewis Automotive Hour Webinar series.

The Outsourcing Accountability Act of 2019, which was introduced in July and would effectively require some public companies to report their outsourcing of jobs, passed the US House of Peoples Representatives on October 18.

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.