Pinsent Masons Provides Breakthrough Legal Advice

Pinsent Masons has provided the legal advice in a set of new reports recommending the latest innovation in the burgeoning technology of data trusts.

The reports, ‘Food Data Trusts: a framework for sharing information’, produced by the Internet of Food Things team at the University of Lincoln and Food Data Trust – Legal, Structuring and Governance, written by Pinsent Masons, both commissioned by the Food Standards Agency propose a breakthrough technology to resolve longstanding issues of consumer confidence in food labelling, origins and authenticity and the legal framework to support this.

The proposal is for a data trust framework under which businesses at all points in the food supply chain, from growers and manufacturers to retailers, can safely share selective in-house data. This could significantly improve supply chain processes while boosting consumer confidence about where foods come from, how sustainably they’re sourced and their authenticity.

The legal report, written by a team of data experts from Pinsent Masons including Andrew McMillan, Sarah Cameron, Michele Voznick, Lauro Fava, Chris Martin, Angelique Bret and Brendan Ryan, sets out the necessary collaboration agreements underpinning a data trust framework.

Professor Simon Pearson, Professor of Agri-Food Technology at the University of Lincoln, said: “It’s easy to understand why businesses are reluctant to share such commercially sensitive information. No one wants to reveal their advantages to their competitors. But, in the data age, this reluctance is holding up much-needed advances.

Sharing data in a secure and limited way can help to expose and tackle problems from incorrect labelling and widespread food fraud to tracing contaminated food, as well as speeding up product recalls.”

Importantly, the framework is not a data trust itself: it is a mechanism to manage data trusts, which might be decentralised, diverse data collections.

It is designed to control the way that data may be exchanged across data trusts that are linked temporarily, to ensure that information can be shared securely for example between regulators and other government departments that need to exchange secure and trustworthy data.

It also provides great potential to connect with AI services in order to provide access to dynamic and fresh data in return for immediate AI-derived information that could benefit the interconnected participants in the supply chain.

The report follows Pinsent Masons’ work on the Open Data Institute’s and Government Office for AI’s ground-breaking data-trust pilots, looking at how data trusts can be used to tackle major global challenges.

2020 COVID-19 Report

COVID-19 is an infectious disease caused by the SARS-CoV-2 virus. Most people infected with the virus will experience mild to moderate respiratory illness and recover without requiring special treatment.

A new report titled – Global operational resilience and COVID-19 –  reveals how financial institutions are managing operational resilience in the wake of the pandemic.

Whilst 38% of respondents felt their institution had moderately comprehensive operational resilience frameworks before the pandemic, the same proportion confirmed their framework was either “in development” or “in place but required improvement”.

Consequentially, the pandemic has prompted a robust response from the financial services industry with 80% of respondents stating that their institutions now has enhanced governance and oversight due to the crisis.

Managing external stakeholders and third parties, IT connectivity, business travel disruptions, and supervision and oversight were four areas in which respondents had experienced challenges during the earlier phase of the pandemic.

Respondents have identified conduct risk, cyber and data security, cash flow and profitability, and the impact of loan loss provisions as primary areas of systemic concern.

Correspondingly, respondents expect greater regulatory scrutiny and enforcement action to focus on controls and risk management frameworks, technology and management information, accountability regimes and financial crime risks.

Given the ongoing disruption caused by the pandemic, more than 70% of respondents expect that their organisations will increase their operational resilience budgets in 2021.

The report was published by international law firm Norton Rose Fulbright. Norton Rose has one of the largest global energy, infrastructure and resources teams of any legal practice in the world with more than 1500 lawyers.

2020 Gender Equity and Family Friendliness Report

Gender equity is the process of being fair to women and men. To ensure fairness, strategies and measures must often be available to compensate for women’s historical and social disadvantages that prevent women and men from otherwise operating on a level playing field.

YLW recognised Kirkland as a Top Firm for Parental & Caregiver Leave in its 2020 annual Top Firms for Gender Equity & Family Friendliness Report.

YLW works to advance the status of women and traditionally underrepresented gender identities at Yale Law School and in the legal profession at large.

To realise this mission, we create programming, resources, and mentorship opportunities to bolster our members’ pursuit of their professional and personal goals.

YLW is a non-partisan organisation committed to building a supportive community of women at Yale Law School and beyond.

The annual list is a policy survey of Vault 100 law firms that examines inequities within the legal profession, highlights progress being made in the industry and identifies areas for improvement to serve as a tool for law firms, lawyers, and future lawyers with the aspiration of building more equitable workplaces.

Kirkland was previously honoured as a Top Family Friendly Firm in 2008, 2010, 2011, 2014 and 2015.

Kirkland Overview

Kirkland & Ellis LLP is an American law firm. Founded in 1909 in Chicago, Illinois, Kirkland & Ellis is the largest law firm in the world by revenue, the seventh-largest by number of attorneys, and is the first law firm in the world to reach US$4 billion in revenue.