Outsourcing

News & Analysis as of

Investment Funds Update: Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Central Bank Signs Off on CP86 with a Location Rule Compromise - The Central Bank published its Third Consultation and Feedback Statement on CP86 on 19 December 2016. While the multi-location rule was abandoned, the...more

IRD consults on GST treatment of management fees and outsourced services

'Questions we've been asked' (QWBA) are statements issued by the Office of the Chief Tax Counsel of the New Zealand Inland Revenue Department (IRD) in response to queries received on specific tax issues which are likely to be...more

Looking Back at Predictions That I Made Three Years Ago, Part 2: eDiscovery Predictions Revisited

Earlier, I took a look back at two posts that comprised six eDiscovery predictions for 2014 that I wrote three years ago. I thought it might be fun to look back at those posts to see how those predictions fared. I covered...more

Human Drug Compounding: FDA Issues Four Guidance Documents

FDA had a busy holiday season, issuing two final guidance documents and two draft guidance documents for industry related to human drug compounding right before the start of the new year. These guidance documents cover...more

Financial Services Quarterly Report - Fourth Quarter 2016: Developments in the Luxembourg Financial Sector

The Luxembourg financial regulator has published a circular on UCITS depositaries, clarifying the organisational arrangements and other rules provided by Luxembourg’s UCI Law and the EU UCITS Regulation. The circular...more

Implications of the 2016 US Presidential Election for Trade Policy

The election of Donald J. Trump as the 45th President of the United States will have important implications for US trade policy. Assessing these implications in the immediate aftermath of the presidential election is,...more

Terminated Disney Employees Allege that Outsourcing Work to Indian Workers Discriminated against American Workers

Disney continues to face legal repercussions from the company’s 2014/15 layoffs of numerous American IT workers, and the outsourcing of their functions to two Indian companies employing H-1B workers. On Monday, Dec. 12th,...more

Tech Sector Braces for Possible Impact from President-Elect Trump’s Immigration Agenda

There could be repercussions for the tech sector from any number of actions that President-elect Trump might take on immigration. There could even be impact from his actions taken in other areas such as trade and national...more

Senior MP Calls for Regulatory Crackdown on Banks’ IT Systems: 3 Things You Can do to Prepare

The recent cyberattack on Tesco Bank’s IT systems has prompted Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, to call on regulators to take action against vulnerable bank IT systems... ...more

Law Firm Business Development: Is Marketing Department Outsourcing The New Black?

Outsourcing a law firm’s back office functions like Finance or Information Technology (IT) certainly isn’t a new concept. However, as law firm leaders continue to seek ways to grow the firm’s bottom line and improve the...more

México: SHCP publica interpretaciones de la Ley Anti-Lavado con relación a la subcontratación laboral

El 21 de octubre de 2016, la Secretaría de Hacienda y Crédito Público (“SHCP”), mediante breve comunicado en su portal de internet, publicó la interpretación que se deberá aplicar al inciso b), fracción XI del artículo 17 de...more

Mexico: New Interpretation of Anti-Laundering Law Provision Regarding Outsourcing

On October 21, 2016, Mexico's Ministry of Finance and Public Credit (“SHCP” for its acronym in Spanish) published its interpretation of a provision under the Anti-Laundering Law that adds outsourcing to the list of activities...more

Food and Beverage Companies: Get the Dish on Commercial Agreements: Insights from Nutter’s Jeremy Halpern

Jeremy Halpern, a partner in Nutter’s Food and Beverage Group and the Director of Business Development for the firm’s Emerging Companies Group, discussed commercial agreements in the food and beverage industry in Nutter...more

UK Financial Conduct Authority Fines Aviva for Client Asset and Money Failings

The Financial Conduct Authority published the final notice issued to Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited, fining the firms £8,246,800 for failing to have adequate controls and oversight arrangements to...more

Aviva’s £8.2M FCA Fine a Stark Reminder that Regulated Firms Cannot Outsource Their Regulatory Responsibilities

The FCA has fined Aviva, the UK insurance group, £8.2 million for failing to have appropriate controls over its outsourced service providers. According to the FCA’s press release, the fine would have been even larger at £11.8...more

Outsourcing Lessons from an “Uber” Uber-Rider

In July 2015, my 12-year-old SUV, with 220,000 miles, finally breathed its last breath. It was time for me to buy a new car. But, instead, I decided to try a little personal experiment with the “sharing economy.” Based on...more

The Effect of Brexit on Cyber Security: A National Response to an International Threat?

As the risk of cyber attacks respects no borders, a cohesive and harmonised EU-level approach to cyber security is appropriate. It is therefore understandable that UK organisations have questions following the recent...more

International News: Focus on International M&A

The Impact of The EU General Data Protection Regulation - The EU General Data Protection Regulation 2016/679 (GDPR) was published in the Official Journal of the European Union on 4 May 2016 following the compromise...more

Outsourcing and the Value Added Tax: Mexico’s Third Circuit Reminds Employers to Consult the Federal Labor Law

On July 15, 2016, the Third Circuit Court on Administrative Matters, acting in plenary session (based in Jalisco), published a Judicial Interpretation titled, “Provision of Independent Services: In order to determine whether...more

New Blanket L Form Reflects Heightened Scrutiny of Outsourcing Companies

In recent years the L-1 Intra-Company transfer visa program has come under scrutiny. Critics of the program, which allows a multinational company to transfer an executive, manager, or worker with “special knowledge” from a...more

Singapore Legal Update - August 2016

MAS Proposes Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and Assets - The MAS Consultation Paper on Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and...more

MAS issues revised Guidelines on Outsourcing

Institutions will need to meet deadlines to conduct a self-assessment of existing outsourcing arrangements, rectify identified deficiencies, and put in place measures to mitigate interim risks where a deficiency is...more

Monetary Authority of Singapore outsourcing guidelines 2016

The Monetary Authority of Singapore (MAS) has published its new and replacement Guidelines on Outsourcing on 27 July 2016. The Guidelines are intended to provide comprehensive guidance over the risk management practices that...more

En Banc CAFC Requires UCC Sale For On Sale Bar

In an en banc decision issued in The Medicines Company v. Hospira, Inc., the Federal Circuit determined that in order for a commercial transaction to trigger the on-sale bar of § 35 USC 102(b), it must “bear the general...more

Blog: FCA publishes guidance for firms outsourcing to the cloud and 3rd-party IT service providers

The FCA has published its final “guidance for firms outsourcing to the cloud and other 3rd-party IT services“. The guidance is generic in two senses: it “aims to help firms and service providers understand [the FCA’s]...more

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