Knowledge

Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.

Knowledge

<p>Filter Knowledge</p>

  • Filter Knowledge

    Articles Filtering:

2750 Results

New standard contractual clauses for EU personal data transfers to third countries

Summary

  • The New EU SCCs will come into force on 27 June 2021 and data exporters subject to GDPR will have until 27 December 2022 to transition their existing arrangements to the new clauses.

  • They are modular in approach and cover the following scenarios: C to C; C to P; P to P; P to C, with some general clauses applying to all the scenarios, and some tailored to each scenario.

  • They will require the parties to carry out a Schrems II-style transfer impact assessment in respect of the local laws and practices of the destination country, but there is some flexibility for the parties to use their judgement based on the nature of the data transfer and their practical experience.

  • They will increase the compliance and accountability burden, GDPR-style, on data importers which previously might not have been used to such measures.

  • The new clauses are an improvement in some ways (particularly in terms of providing specifically for P-P transfers (a major gap in the old clauses)) and by incorporating Article 28 wording such that, when using the C-P module, the parties do not also have to enter into an Article 28-style DPA. However, the new SCCs do not improve the current duty on data exporters to consider where local laws may impact on the importer's ability to comply with the contract and the rather impossible obligation to then take some sort of corresponding action to address that.

COP26: Committee on Climate Change Independent Assessment of UK Climate Risk

On 16 June 2021, the UK Committee on Climate Change ('CCC') issued its third report on the state of the UK's preparedness for the risks and opportunities of climate change impacts. "Climate change adaptation", changes that allow us to prepare for and live with the inevitable impacts of climate change, is recognised as, in some respects, as important as climate change mitigation, or actions to reduce the scale and speed of climate change itself.

Travers Smith advises Numis and Goodbody on placing by Draper Esprit plc

Travers Smith LLP has acted for Numis and Goodbody (in their capacities as joint corporate brokers, joint global co-ordinators and joint bookrunners) on the English law aspects of a placing by Draper Esprit plc ("Draper Esprit") by way of an accelerated bookbuild which, together with an offer to retail investors made by Draper Esprit on the PrimaryBid platform, raised gross proceeds of c.£111m.

COP26: G7 Climate outcomes

In addition to COVID-19, climate change was one of the headline issues at the G7 summit in Cornwall over the weekend of 11-13 June 2021. The leaders of some of the world's richest nations, whose average carbon footprint per person is thought to be double the global average (triple for the US and Canada), made several climate-focused pledges, but critics claim that the detail of how to achieve them, and the finance needed to do so, were both missing.

UK CMA and ICO cooperation on digital markets

The synergies between competition law compliance and data protection compliance are becoming more pronounced, even more so since the UK Information Commissioner's Office (ICO) and the Competition and Markets Authority (CMA) recently set out their blueprint for co-operation in digital markets.

Consultation on Power to Block Listings on National Security Grounds

Earlier this week, the government published a consultation on a new power to enable the National Security Council to block UK public listings on national security grounds. This follows concerns first highlighted in its 2019 Economic Crime Plan that there are remote but possible scenarios in which a company listing in the UK could present a risk to the nation’s security; the subsequent Hill review and the further announcement that the government intended to bring forward this precautionary power (please see the timeline below for further details). It is intended that the new power will sit alongside existing protections and safeguards in place in the UK under the anti-money laundering and sanction framework.

Back To Top Back To Top chevron up