Brett Aubin explores if Schrems II is the next grey swan for solicitors
Repapering is a bona fide nightmare for in-house legal departments: a regulation changes, a law changes, there is a market event or corporate action – firms are triggered into a process of contract risk review and potentially amendment (repapering), that is mostly unwelcome and often, very unwelcome. Firms hit hardest are those with large customer and vendor bases and, if the sector is heavily regulated, the peril is greater still.
Who is most affected?
Financial services in particular have been heavily impacted over the last 20 years, going all the way back to MIFID 1 in the noughties, through the initial EMIR/Dodd Frank post financial crisis industry reforms in the early twenty teens, reaching its apo...
There is a now a new cloud on the horizon … the fall-out from the Schrems II decision and the consequent invalidation of the Privacy Shield.
