News & Analysis as of

Third-Party Relationships

Procurement Pressure: The Convergence Of Supply And Compliance

by Thomas Fox on

With a growing number of complex regulations and directives, the only thing that is constant right now in the regulatory environment is change. Supply chain leaders and compliance professionals alike continue to grapple with...more

OCC Offers Advice on Fintechs, Marketplace Lenders

In a new bulletin providing supplemental guidance on third-party relationships, the Office of the Comptroller of the Currency (OCC) answered frequently asked questions about the relationships between financial institutions...more

New OCC Bulletin on Third-Party Oversight Highlights Fintech Relationships

by Pepper Hamilton LLP on

On June 7, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2017-21 (Frequently Asked Questions to Supplement Bulletin 2013-29; Third-Party Relationships: Risk Management Guidance). This is the OCC’s...more

New Fed Policy Eliminates Ability of Settlement Options to Include Payments to Non-Party NGOs

by Snell & Wilmer on

On June 7, 2017, United States Attorney General Jeff Sessions issued a memorandum to all Department of Justice (DOJ) components and 94 United States Attorney’s Offices prohibiting them from entering into any agreement on...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform Investments in Certain "Illiquid Funds" to Requirements of...more

The Challenge of Auditing and Monitoring Your Distributors

by Michael Volkov on

Whether you are in the high-tech industry and managing your channel partners (i.e. third-party distribution network), the pharmaceutical and medical device industry managing a complex network of distributors and...more

Corporate and Financial Weekly Digest - Volume XII, Issue 22

BROKER-DEALER - FINRA Issues Notice Regarding Disruptive Quoting and Trading Activity Rule Changes - On June 7, the Financial Industry Regulatory Authority published Regulatory Notice 17-22, which addresses two rule...more

Delaware's New Focus on Deal Process and Disclosure: Part II

by Pepper Hamilton LLP on

In part one of this two-part series, we discussed two of four recent developments in Delaware law that reduce the liability exposure of corporate boards and controlling stockholders in merger transactions, and also benefit...more

There's an App for That: Franchisors Fight Slumping Sales, Millenials

by Lewitt Hackman on

How has the gourmet burger gone awry? According to Fox, the better burger business dropped five percent in foot traffic at quick-serve restaurants last year, primarily because consumers are opting to “DIY” their food at home....more

New OCC FAQs on third-party relationships highlight bank arrangements with fintech companies and marketplace lenders

by Ballard Spahr LLP on

The Office of the Comptroller of the Currency has issued a new bulletin (2017-21) containing fourteen frequently asked questions to supplement OCC Bulletin 2013-29 entitled “Third-Party Relationships: Risk Management...more

Good or Bad? Facebook, Instagram Updated Privacy Policies Could Signal Industry-Wide Crackdown on Social Media Surveillance

by Butler Snow LLP on

Facebook and Facebook-owned Instagram recently updated their privacy policies to protect users from social media surveillance. These updates could lead an industry-wide trend in restricting third-party sales of user data....more

New Kansas Insurance Department Bulletin Changes TPA Licensing and TPA Renewals

by Polsinelli on

On the heels of the Kansas Legislature’s recent adoption of Senate Bill No. 22 regarding third party administrators, the Kansas Insurance Department issued Bulletin 2017-2 to identify the states the Department has determined...more

DOJ vs. OIG: Analysis of Recently Issued Federal Compliance Documents

by Polsinelli on

Within just weeks of each other, the U.S. Department of Justice (DOJ) and the U.S. Department of Health and Human Services’ Office of Inspector General (OIG) issued separate documents that health care organizations may use to...more

Termination of a Third-Party – Planning Can Reduce the Pain

by Thomas Fox on

The European concern Airbus has been in the news recently for corruption issues. According to an article in the Financial Times (FT), entitled “Airbus sued by middlemen fired following fraud inquiry”, its annual report lists...more

Justice Department Reveals How It Evaluates Corporate Compliance Programs

by Holland & Knight LLP on

The U.S. Department of Justice (DOJ) Fraud Section recently published its "Evaluation of Corporate Compliance Programs" that lists 1) the topics it explores and 2) the questions it asks when it assesses the effectiveness of a...more

German Corporate Law Update: Important Changes in Acquisitions and Investments

For companies interested in investing in, purchasing or selling German companies, here are several recent developments related to Data Privacy and Cybersecurity, M&A, Employment and Tax law that are helpful to keep in mind....more

Deep Dive Due Diligence: Part IV – Level III Due Diligence for 3rd Parties

by Thomas Fox on

Today, I continue my exploration of Level III, deep dive due diligence, by discussing how this should be considered for third parties. I am joined this week by Candice Tal, founder and Chief Executive Officer (CEO) of...more

The DOJ Expects “Third-Party Management” from Compliance Programs

2016 was a banner year for global anti-corruption enforcement: the U.S. government set records in terms of both the number of FCPA actions brought and the total dollar amount of related fines. Meanwhile, governments from...more

Department of Justice Fraud Section Provides Guidance on Evaluating Corporate Compliance Programs

by Jones Day on

On February 8, 2017, the United States Department of Justice ("DOJ") Fraud Section published a blueprint for assessing corporate compliance efforts, titled "Evaluation of Corporate Compliance Programs" ("Guidance"). It...more

On-Sale Bar for Contractor and Supplier Activities

The Federal Circuit addressed the potential for contract manufacturing to create an “on sale” bar to patentability, in a decision that could affect how supplier relationships are managed. Whether a sale or offer for sale of...more

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

by Pepper Hamilton LLP on

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Privilege Claims Validated in Counterfeit Detection Dispute

In a recent decision, Magistrate Judge Kelley addressed the legitimacy of withholding third party communications under the common interest doctrine. The case involved plaintiff Crane Security Technologies, Inc. (“Crane”) –...more

FTC Takes Another Look at Merger Remedies

by Hogan Lovells on

On 3 February 2017, the U.S. Federal Trade Commission (FTC) released its Merger Remedies Study, which analyzed the success of merger remedies imposed by the FTC from 2006 to 2012. Nearly two decades after it issued a similar...more

Annual Filing for Welfare Exemption Due On or Before February 15th

The February 15, 2017 deadline for nonprofit organizations in California seeking to initially obtain or renew exemption from property taxes is quickly approaching, and there are changes to the reporting requirements if your...more

European “Intermediaries” May Be Forced To Take Active Measures Against Trademark Infringement Committed By Third Parties

by Ladas & Parry LLP on

Recent cases in the Court of Justice of the European Union (“CJEU”) and the Court of Appeal of England and Wales (“the English Court of Appeal”) have addressed the question of whether those who provide facilities to persons...more

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