News & Analysis as of

Third-Party Relationships

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

Group-Level Accountability for Third-Party Risk: Why It’s So Hard

by NAVEX Global on

Of the wide range of challenges that compliance officers face with third parties, my favorite is: who “owns” third-party risk management? The truth is that different people within the enterprise feel different types of pain...more

Coordinating Third Party Due Diligence and Procurement

by Michael Volkov on

Third party risk management is easily one of the most challenging risks for compliance officers. With all the attention and hype surrounding third party risk, companies have marshaled attention and resources to mitigate the...more

On Leadership – A Simple Message and Asking the Right Questions

by Thomas Fox on

Sometimes, as a leader it is important to say something numerous times, to repeat your message so that it will come through loud and clear. For any Chief Executive Officer (CEO) it is incumbent to continually reinforce your...more

When Lawyers Cross the Line – Breaking Bad Under the Law

by Michael Volkov on

While reading the Embraer settlement documents, I read over the facts implicating a senior legal executive and his/her involvement in the Embraer bribery scheme. Truthfully, I had a slight gasp as I read about a fellow lawyer...more

NYS Cyber Crack Down Looms: What Every Financial Institution, Insurer and Their Board Must Know

With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law. The regulation – which covers a...more

The Fall of Big Sam

by Dentons on

Last week, the Football Association (FA) dispensed with the services of its shortest-serving England manager after just 67 days in the role and following only one game in charge. Sam Allardyce (Allardyce) was removed from his...more

Trust But Verify - Due Diligence with a Jaded Eye

by Michael Volkov on

Ronald Reagan’s mantra with respect to US-Soviet relations in the 1980s applies with equal force to today’s world of due diligence. (I know it shows my age that I can recall this statement). Not all due diligence cases...more

Third-Party Risk Management – Part 2: Contract Termination

by Michael Volkov on

This second part of the series will take a look at the last phase in the lifecycle of third-party business relationship and that is contract termination. This is a phase a lot of times overlooked....more

Good-Bye to Wyatt Earp and More on 1MDB

by Thomas Fox on

Wyatt Earp died this week. Not the original Wyatt Earp who died in 1929 but the Wyatt Earp of my lifetime, who was actor Hugh O’Brian. O’Brien portrayed Earp in the long running television series Wyatt Earp which ran in the...more

Hallmark 7-Third-Party Due Diligence and Payments

by Thomas Fox on

There are five steps in the life cycle of third party management. - Business Justification and Business Sponsor; - Questionnaire to Third Party; - Due Diligence on Third Party; - Compliance...more

Hallmark 2 – Code of Conduct and Compliance Policies and Procedures

by Thomas Fox on

The cornerstone of a Foreign Corrupt Practices Act (FCPA) compliance program is its written protocols. This includes a Code of Conduct, policies and procedures. In the FCPA Guidance, the Department of Justice (DOJ) and...more

SEC Approves NASDAQ’s Proposed Rule on Golden Leash Arrangements

On July 1, 2016, the SEC approved NASDAQ’s proposed Rule 5250(b)(3), as amended by Amendment No. 2 filed on June 30, 2016 (the “Final Rule”), requiring NASDAQ-listed companies to publicly disclose third-party compensation...more

En Banc: Federal Circuit Provides Guidance on Application of On-Sale Bar to Contract Manufacturers

Pharmaceutical and biotech companies breathed a sigh of relief Monday when the Federal Circuit unanimously ruled in a precedential opinion that the mere sale of manufacturing services to create embodiments of a patented...more

Federal Circuit Finds That Use of a Contract Manufacturer Does Not Trigger the On-Sale Bar Provision

by Pepper Hamilton LLP on

The court’s decision provides insight into which activities trigger the on-sale bar provision. On July 11, in The Medicines Co. v. Hospira, Inc., No. 14-1469 (Fed. Cir. July 11, 2016), the U.S. Court of Appeals for the...more

Federal Circuit Limits On-Sale Bar’s Reach

by Ballard Spahr LLP on

If you were concerned that outsourcing the manufacture of your invention before you filed your patent application triggered a "sale" that could put your patent at risk, you can rest easy. In The Medicines Company v....more

Flip Transactions: Taking your Startup from Europe to the U.S.

by Morrison & Foerster LLP on

Considering moving your startup from Europe to the United States? A “flip” into a U.S. corporate legal structure may be best for the long-term growth of your business. Foreign technology startups seek to reorganize in the...more

M&A Update: New York Court of Appeals Rejects Extension of Common Interest Privilege to Merger Talks

On June 9, 2016, a divided New York Court of Appeals in a much-anticipated ruling held that the attorney-client privilege can only be maintained for communications involving third parties in situations where litigation is...more

Third Party Risk Management: Balancing Due Diligence Screening and Monitoring

by Michael Volkov on

In response to aggressive FCPA enforcement and recurring problems with third parties, companies have spent substantial resources and time to design and implement comprehensive ethics and compliance programs. A key part of...more

FTC Staff Tackle FCC Privacy Rules in Public Comment

by WilmerHale on

As the Federal Communications Commission sifts through over 50,000 comments received in response to its proposed broadband privacy rules, the Federal Trade Commission’s comments are likely to stand as a highlight. In a...more

The How Question in Due Diligence

by Thomas Fox on

What is satisfactory due diligence under the Foreign Corrupt Practices Act (FCPA)? That question seems to be more important after the Huffington Post’s story on Unaoil and the subsequent release of the Panama Papers. However,...more

The Evolving Due Diligence Standards and Beneficial Ownership

by Michael Volkov on

In case you are not following all the latest scandals – Unaoil and the Panama Papers being two significant ones – we are seeing an evolution and possibly a revolution in due diligence expectations....more

The OCC’s Request for Comments and Discussion on the Future of Fintech Regulation

by K&L Gates LLP on

U.S.-based digital banking startups have raised more than $10 billion since 2010, and investment in financial technology (“fintech”) companies has surpassed $24 billion worldwide. These firms are attempting to disrupt the...more

New Amendments to Florida’s Proceedings Supplementary Statute Provide Clarity and Guidance for Judgment Creditors

by Baker Donelson on

Chapter 56 of the Florida Statutes provides the framework for judgment creditors to collect on money judgments. Section 56.29 governs the process by which a judgment creditor may seek to recover property transferred to, or...more

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