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.
Tech & Sourcing @ Morgan Lewis
TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
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.
Morgan Lewis partners Ksenia Andreeva, Anastasia Dergacheva, Vasilisa Strizh, and Brian Zimbler and associate Anastasia Kiseleva contributed the chapter on Russia for the recently released Data Protection & Privacy 2020, the eighth edition of the Lexology Getting the Deal Through publication.
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.