Risk & Compliance weekly highlights—03 September 2021

Risk & Compliance weekly highlights—03 September 2021

In this issue:

Data protection

Crime prevention

Trackers

LexTalk®Risk & Compliance: a Lexis®PSL community

Virtual networking and forum events


 

Data protection

UK plans for data protection law reform, new adequacy partnerships and new Information Commissioner

The Department for Digital, Culture, Media & Sport (DCMS) has announced its post-Brexit global data plans, through which it aims to boost growth, increase trade and improve healthcare and public services.

As part of its plans, the DCMS has outlined the first territories it will prioritise for new ‘data adequacy partnership’, which includes the US, Australia, the Republic of Korea, Singapore, the Dubai International Finance Centre and Colombia. The DCMS hopes that through these agreements, more trade and innovation can be unlocked by reducing unnecessary barriers and burdens on international data transfers.

 The DCMS will also launch a consultation in the coming weeks to look at ways to increase trade and innovation through the UK’s data regime. It will look at ways to break down the current barriers to innovative and responsible uses of data. Greg Palmer, counsel at Linklaters, Will Richmond-Coggan, director at Freeths, Gabriel Voisin, partner at Bird & Bird and Eleonor Duhs, director at Fieldfisher, share their views on the announcements.

See: LNB News 26/08/2021 66.


The draft UK SCCs for international transfers

Bridget Treacy, partner, and James Henderson, associate, at Hunton Andrews Kurth discuss the draft UK Standard Contractual Clauses (SCCs) for international transfers under the UK GDPR recently published by the Information Commissioner’s Office.

They examine key differences between the UK draft SCCs and the EU SCCs adopted in June 2021 (the 2021 EU SCCs) under the EU General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR) and how organisations that transfer data under both UK and EU GDPR are likely to approach using the draft UK SCCs and the 2021 EU SCCs in practice. They also address potential concerns organisations may have when using the draft UK SCCs and the next steps for adopting them.

See News Analysis: The draft UK SCCs for international transfers.


 

Crime prevention

HM Treasury issues Afghanistan sanctions reminder

It has been reported that HM Treasury has reminded businesses that UN sanctions are in place against individuals and entities associated with the Taliban in a newsletter distributed on 31 August 2021.

See: LNB News 31/08/2021 57.


FATF publishes updated consolidated assessment ratings table

The Financial Action Task Force (FATF) has published a table detailing its latest assessment ratings. The FATF and FATF-Style Regional Bodies conduct peer reviews on an ongoing basis to assess how effectively the respective members’ measures work in practice and how well they have implemented the technical requirements of the FATF recommendations. The latest table provides up-to-date overview of the ratings that assessed countries obtained for effectiveness and technical compliance. They should be read in conjunction with the detailed mutual evaluation reports, which are available on their website.

See: LNB News 31/08/2021 67.


 

Trackers

Lexis®PSL Risk & Compliance has a dedicated area on the Key Resources section of the home page that tracks interesting and important cases, legislation, consultations and other key developments in the world of Risk & Compliance. For more information, see: Risk & Compliance forecast as at 20 July 2021.


 

LexTalk®Risk & Compliance: a Lexis®PSL community

Collaborate and network with a community of expert lawyers

LexTalk® is an online community forum which gives Lexis®PSL subscribers the opportunity to post questions, hold conversations, participate in discussions and share best practice. It has been designed to provide a secure place for legal professionals to discuss legal developments, offer and receive peer support, and gain a sense of up-to-date market practice and advances in real-time. You can access and post questions on all of the dedicated practice area forums, including a dedicated community for Lexis®PSL Risk & Compliance.

Click here to sign up and meet like-minded community members, create a profile, connect, share, and start participating today! Alternatively, you can access LexTalk® on the key resources tab on your Practice Area home page.


 

Virtual networking and forum events

There’s no need to feel isolated if you’re working from home—join one of our virtual networking or forum events. Even if you aren’t working from home, take some time to network with your peers, find out what challenges they’re facing and how they are meeting those challenges.

22 September 2021


Disrupted or accelerated? Digital transformation in legal teams

Register now to attend

COVID-19 showed how an agile in-house team can be a competitive advantage for a business. Yet did the pandemic accelerate or disrupt digital transformation in legal teams? In this session, we explore the issues that deserve deeper consideration on the topic of legal tech. How are other legal teams using technology to increase productivity, reduce risk and collect meaningful data to demonstrate their value? Is there just a shift from legal tech to enterprise tech? What should you expect from your law firms in relation to use of technology to improve efficiency and reduce costs? What practical strategies can be used in implementing an effective change management initiative?

3 November 2021


Your essential regulatory and commercial news update

Register now to attend

We are almost a year into Brexit and settling into a new way of life post-lockdown. Parts of the economy are rebounding after a tough 18 months. Yet challenges will remain, alongside renewing optimism. What should be on your radar to best support your organisation moving forward? Join us as we highlight the key priorities for legal departments from recent government and regulatory guidance updates and recommended practical next steps to consider.

8 December 2021


The fight against modern slavery

Register now to attend

40 million people are estimated to be trapped in modern slavery worldwide. 1 in 4 of them are children. 71% are women and girls. 10,000+ were identified as potential victims by the authorities in the UK in 2019. Join us as we welcome guest speakers and senior counsel to discuss the critical role you can play as senior counsel in helping in the fight against modern slavery. This is not only a moral obligation it is a regulatory obligation.

26 January 2022


The effective leader— how to lead amid disruption and complexity

Register now to attend

This free-to-join forum brings together in-house lawyers working solo, or in smaller teams, to network and learn from one another. It is a chance to connect, debate topical issues and stay ahead of the latest regulatory and legal commercial updates for legal teams. Held in partnership with Flex Legal, Radius Law and Crafty Counsel.

Various dates


LexisNexis® Aspire Forum for Junior In-house Lawyers

To register your interest in joining the events, sign up as an Aspire member today

Aspire is a professional development and networking forum for junior in-house counsel. We have several events planned for the new year to continue supporting you through these uncertain times and provide a platform for you to connect with your peers. Events take place at the same time each month, from 5pm to 6.30pm.

 

 

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About the author:
Allison is a former partner of Shoosmiths, with extensive experience of legal management and practice compliance.