Tech & Sourcing

New regulatory requirements: impact on outsourcing / IT contracts

The so called Tax Decree (Law no. 157/2019 of 19 December 2019 implementing Law Decree no. 124/2019) introduced new regulatory requirements for services agreements that will have an impact on outsourcing and IT contracts as well as on those contracts where a considerable amount of manpower is utilized (e.g. logistics, maintenance services, etc.). The new …

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Nuovi obblighi in tema di appalti

Il c.d. Decreto Fiscale (Decreto Legge. n. 241/1997 convertito con Legge n. 157/2019) ha introdotto sostanziali novità in tema di appalti. Si tratta di una riforma che richiede immediata attenzione per le conseguenze sanzionatorie in capo a committente e appaltatore nonché modifiche ai contratti in essere e da stipulare e l’adozione di nuove procedure interne. …

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FinTech: Who is responsible if AI makes mistakes when suggesting investments?

The recently reported legal action brought for damages due to wrong investments resulting from algorithms-based automated decision-making processes is one of the first known cases of this type. The case has received some attention from the media worldwide and has contributed to reopen the debate on the issue of liability connected to the use of Artificial Intelligence systems (“AI”). The question at issue is, in brief: who is held liable for the damages caused by AI and who shall compensate such damages, if any.

New guidelines for EU Financial Institutions moving to Cloud Computing

Prompted by the increasing interest for the use of cloud outsourcing solutions within the banking industry, the European Banking Authority (“EBA“) has recently issued the final recommendations on the use of cloud service providers by financial institutions (“Recommendations“), which will be applicable as of 1 July 2018.