October 08, 2019

Subcommittee News

From the Cloud and Enterprise Technology Subcommittee

In his Annual Meeting program, Board Responsibilities in Cybersecurity: The View from the SEC, Bill Denny highlighted the Delaware Supreme Court’s June 2019 decision in Marchand v. Barnhill.  The Delaware court ruled that directors can breach their duty of loyalty to a company when they fail to put in place reasonable information and reporting systems to monitor the company’s operational viability, legal compliance, and financial performance.

As Marchand brings renewed attention to directors’ oversight responsibilities, we have a great opportunity to share our experience counseling businesses about technology issues.  The Subcommittee will press ahead in the coming months to finish its book project: Director’s Legal Handbook – Enterprise Technology.  We have opportunities for new authors.  If you’re interested in contributing, please reach out and let us know.

From the Current Law Task Force

The next meeting of the Current Law Task Force will be October 16, 2019 at 10:30 AM CST.  The Current Law Task Force hosts monthly calls to discuss new developments and emerging issues, as well as opportunities to publish updates to ABA members through various ABA publications.  The call-in numbers for the next meeting are:

Toll-free dial-in number (U.S. and Canada):
(866) 646-6488

International dial-in number:
(707) 287-9583

Conference code:
4489610305

If you are unable to attend the meeting, but are interested in developing a piece for publication, please contact Michael Silvestro at Michael.silvestro@rsmus.com.

From the Identity Management Legal Task Force

A new version of the draft international identity management law is just been released by the UN Commission on International Trade Law (UNCITRAL). Titled “Draft Provisions on the Cross-border Recognition of Identity Management and Trust Services,” the draft is available on the UNCITRAL site, along with prior versions and other relevant documents, at https://uncitral.un.org/en/working_groups/4/electronic_commerce. It is document A/CN.9/WG.IV/WP.160.

This new draft will be discussed by UNCITRAL Working Group IV at its November 25 – 29 meeting in Vienna.

If appropriate, the Task Force would like to consider submitting comments with respect to this draft. So if you have any comments or suggested revisions to the draft, please send them to Tom Smedinghoff at Tom.Smedinghoff@lockelord.com.

From the Smart Contracts and Blockchain Subcommittee

The Smart Contracts and Blockchain Subcommittee met and had a lively discussion in Washington D.C.  at the Annual Meeting in September.  Our guest speaker was Amy Wan.  Amy described her experiences in her role as the founder and CEO of the blockchain and smart contracts company Sagewise, and the challenges the company faced entering the marketplace with a service to verify claims and resolve disputes in blockchain transactions.  The subcommittee also discussed several potential projects, and possibilities of collaborating with other industry organizations, including the Coalition of Automated Legal Applications (COALA) and The Wharton School.  The subcommittee will meet again in January 2020 during the Cyberspace Institute and Winter Working Meeting.  In the meantime, please sign up on the ABA website or contact Co-Chairs Bill Denny (wdenny@potteranderson.com) or John Ottaviani (jottaviani@psh.com) if you would like to participate or have any suggestions for projects for the subcommittee.