Outsourcing

News & Analysis as of

"Navigating a More Complex Outsourcing Industry With Well-Crafted Agreements"

Outsourcing is once again on the rise, due to three key factors: (1) the increased use of cloud computing to deliver more services at a lower price, (2) a marked increase in the number of midsized, high-quality service...more

Are Outsourcing Arrangements a New Vehicle for Alleging Employment Discrimination?

Recent events have resulted in greater scrutiny of arrangements involving the outsourcing of certain business functions by U.S. employers, particularly where such arrangements involve foreign workers on visas in the United...more

Trying To Avoid Liability by Outsourcing Labor to Staffing Companies? It May Not Work As Well As You Think!

Joint employers beware… A recent case settled by the United States Department of Labor (DOL) Wage and Hour Division highlights how companies who outsource labor to staffing agencies may want to take precautions to ensure they...more

Myth-Busting: Outsourced Call Centers - The Truth About Quality and Customer Service When Call Centers Are Outsourced

Outsourced call centers have gotten a bad reputation, and for a good reason. In the early 2000’s, there was a widespread movement to outsource call centers to places like India and the Philippines, with disastrous...more

PRA fines Raphaels Bank for outsourcing control failings

PRA has fined Raphaels Bank £1,278,165 for breach of what was at the time Principle 2 in relation to outsourcing of provision of ATMs. The bank had agreed in 2006 to enter into a joint venture agreement with a group company...more

Intellectual Property & Technology News: The impact of robotic process automation on outsourcing fees

The outsourcing industry is experiencing a game-changing technological advance that will challenge the status quo of transaction pricing models and fees. Service providers globally are realigning their workforce by rapidly...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement - A Source of Concern for the SEC — The Outsourcing by Investment Advisers and Funds of Compliance Activities - In a recent National Exam Program Risk Alert (dated November 9, 2015) the U.S....more

SEC Warns on Outsourced Chief Compliance Officers

The SEC’s Office of Compliance Inspections and Examinations, or OCIE, recently issued a risk alert titled “Examinations of Advisers and Funds That Outsource Their Chief Compliance Officers.” According to the alert, OCIE...more

SEC Issues Report on Increasing Use of Outsourced Chief Compliance Officers

In November 2015, the Securities and Exchange Commission (SEC) released its Outsourced CCO Initiative Report. The report addressed the increased trend of outsourcing compliance activities to third-party consultants within the...more

SEC Exam Staff Shares Observations on Outsourced Chief Compliance Officers

Firms that use third-party CCOs or that rely on financial intermediaries that have outsourced their compliance functions should consider taking a fresh look at their compliance structure in the wake of this guidance....more

Investment Management Legal + Regulatory Update - November 2015

Regulation - OCIE Cautions Advisers on Outsourcing Compliance Activities: In a Risk Alert dated November 9, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) said it found that outsourced...more

Bridging the Week - November 2015 #3

Court Chastises SEC for Causing Unwarranted Collapse of Foreign Bank: A federal judge in New York severely criticized the Securities and Exchange Commission over its handling of a lawsuit against Caledonian Bank Ltd.,...more

Say “Yes” to the Service Desk: 4 Keys to Documenting Services like a Champ

Of Silk and ServicesAs I listened to my wife, a custom wedding dress designer, talk a hysterical bride off the cliff this past weekend, I realized the conversation sounded eerily familiar. My wife was certain that the...more

OCIE Issues Risk Alert Relating to Outsourced Chief Compliance Officers

On November 9, 2015, the Office of Compliance Inspections and Examinations (“OCIE”) released the findings of its Outsourced CCO Initiative, which examined nearly 20 investment advisers and investment companies that are...more

SEC Releases Risk Alert Related to Outsourcing of Chief Compliance Officer Duties by Investment Advisers and Investment Companies

On Nov. 9, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released a risk alert reporting observations from its examination of investment advisers and investment companies that outsource their Chief...more

Financial Services Weekly News - November 2015 #2

Regulatory Developments: CFTC and NFA Staff Publish FAQs and Other Resources for Filing and Reporting on Forms CPO-PQR and CTA-PR - On Nov. 5 the Division of Swap Dealer and Intermediary Oversight of the CFTC...more

OCIE Cautions Advisers About Outsourcing Compliance Activities

In a Risk Alert dated November 9, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) said it found that outsourced compliance programs are generally effective, but some of these arrangements leave room...more

5 Unintended Consequences of Growth-Minded Companies: And What it Means for Compliance Departments

The vast majority of workers, managers, and company executives want to work for ethical organizations, and want to grow in responsible and sustainable ways. This is a given, and yet scandals like Volkswagen and Valeant...more

Sound and Savvy Operational Solutions to Offsetting the Increased Minimum Hotel Wage

In the last issue, we discussed the Los Angeles City Council’s approval of a Citywide Hotel Worker Minimum Wage Ordinance, which required establishments with at least 300 guest rooms to raise their minimum wage to $15.37 by...more

"Intellectual Property and Technology News (Asia Pacific) - November 2015

Welcome to the latest Asia Pacific Edition of Intellectual Property and Technology News, our biannual publication designed to report on worldwide developments in intellectual property and technology law, offering perspective,...more

Cybersecurity 2.0: What’s Expected of Federally Regulated Financial Institutions

As federally regulated financial institutions (FRFIs) expand their reliance on technology, employ progressively complicated and interconnected networks and systems, increase their electronic service offerings and collaborate...more

Whistleblower Risk for Private Companies: Misperceptions About Whistleblower Protections Could Cost Private Companies

Sarbanes Oxley made it clear: publicly traded companies must protect whistleblowers from retaliation, or face large fines and legal actions. Yet a widely misunderstood ruling last year by the Supreme Court opened up...more

PRA Publishes Consultation Paper On Operational Continuity (CP 38/15)

The UK Prudential Regulation Authority (PRA) has published a consultation paper on operational continuity for larger retail and investment banks. It follows on from a 2014 discussion paper on the topic and sets out proposals...more

Energy Insights: An Update from the Third Quarter of 2015

In this edition of Seyfarth Shaw’s Energy Insights Newsletter our Energy and Clean Technologies team covers important developments in Q3 2015 for the energy industry including 1) the latest initiatives from the Environmental...more

Mexico Supreme Court Issues Guidance on Outsourcing

The Second Chamber of the Supreme Court of Justice of the Nation in Mexico recently issued guidance establishing that outsourcing does not violate the constitutional principles of legal certainty and freedom. According...more

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