Digital Signatures are widely used to varying degrees in many European jurisdictions. COVID-19 has now seen an increase in their use as a replacement of ‘’wet ink” signatures. This Blog is designed to provide a forum for discussion to help Directors understand how Digital Signatures can effectively be used for documents depending on the type
What is the legal position in Luxembourg and EU Regulation?
What security/technical aspects should be considered when evaluating vendor platforms and solutions?
Practical information, experiences and discussion panel
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Key take away messages from ILA's Webinar on Digital Signatures.
•Firms and Board Directors should adopt a risk-based approach when deciding the level of e-signature security to choose for the relevant document type.
•Firms should look for “quick-wins” to lower cyber-security risks (e.g. replacing e-mail with a secure platform).
•Preparation prior to signing day’ is important - signatories may need security tokens and parties must agree platform and signature security level.
•Local law requirements in EU and cross-border context should be verified.
• One entity needs to manage the e-Signature system and procedures, get legal and compliance validation and then deploy it to all parties.
•E-signature providers should continue to simplify the QeS process to further increase widespread adoptio…