Third-Party Risk

News & Analysis as of

Taking a Forward-Looking Approach to Enterprise Risk Management

Traditionally, organizations have taken a backward-looking approach to risk, evaluating potential hazards on a siloed, departmental basis after a loss of assets. Organizations often take few proactive steps to detect risks,...more

New California Labor Code Mandates Shared Legal Responsibilities

Does your company use workers provided by another entity, such as a staffing agency? If so, your company will soon have direct responsibility if the provider fails to properly pay wages or carry proper workers’ compensation...more

California Amends Law to Expand Businesses’ Obligations in the Wake of a Data Breach

Entities that own, license or maintain personally identifiable information on California residents beware – on January 1, 2015, an amendment to California’s privacy and breach law goes into effect that may have a significant...more

Bobby Keys, the Rolling Stones and Establishing Trust

Bobby Keys died last week. What you probably did not know was that Keys was a Texan so we get to claim him. He was the saxophonist for the Rolling Stones and a number of other serious rockers. ...more

Snapchat Data Breach – A Case Study

In early October 2014, the popular mobile messaging and social media app Snapchat suffered a very high profile leak of approximately 100,000 to 200,000 user images sourced from the database of a Snapchat third-party client,...more

Reinsurance Newsletter - December 2014

In This Issue: - Recent Case Summaries - Recent Regulatory Developments - Recent Speeches and Publications - Excerpt from Recent Case Summaries: Seventh Circuit Holds FSIA Overrides State Statute...more

A Holistic Look at Third Party Risks

In the FCPA world, we tend to get myopic. We see complex issues and business operations through the prism of anti-corruption risks. Businesses and Chief Compliance Officers, however, have a very different perspective....more

The long arm of the law: exporting US justice

As individual jail terms and corporate fines continue to increase, many companies and executives outside the United States are left wondering: How are US laws able to reach so far outside US borders? The United States has...more

Sender Of Faxes May Be Directly Liable For TCPA Violations

In Palm Beach Golf-Center Boca, Inc. v. John G. Sarris, D.D.S., P.A., No. 13-14013 (11th Cir. Oct. 30, 2014), the Eleventh Circuit Court of Appeals reversed the Southern District of Florida’s entry of summary judgment in the...more

Government of India Discloses Names of Overseas Bank Account Holders: Risk and Ramifications Analysis

The Government of India (GOI) on 27 October 2014 made a disclosure to the Supreme Court of India containing the names of three prominent individuals who had opened overseas bank accounts allegedly with proceeds tainted...more

Four’s A Crowd: Third-Party Bad Faith Cases Test the Limits of the Tripartite Relationship

A significant minority of states permit plaintiffs who win judgments against insured defendants to assert claims directly against the defendants’ insurers—including claims for extracontractual liability, based on alleged bad...more

Guindon: SCC Hearing Scheduled for December 5, 2014

The highly-anticipated appeal to the Supreme Court of Canada in Guindon v The Queen has been scheduled for hearing on December 5, 2014, and the parties have now filed their factums in the appeal. The appeal concerns...more

5 Compliance “Hot Spots” for Technology Companies Under Export Controls and Sanctions Laws

Increasingly interconnected global businesses need to focus on how export controls and trade sanctions can affect their cross-border activities in unexpected ways. For decades, the US Government has used trade...more

TCPA Connect - October 2014

9th Circuit Affirms Vicarious Liability–for Anybody–Under TCPA - In a blow to Telephone Consumer Protection Act defendants, the Ninth U.S. Circuit Court of Appeals has ruled that a defendant may be liable for...more

Testing Texas CGL Coverage For 3rd Party Products

On Sept. 19, the Fifth Circuit certified four questions to the Texas Supreme Court regarding coverage under a commercial general liability policy in U.S. Metals Incorporated v. Liberty Mutual Group Incorporated, No. 13-20433,...more

Supply Chain Management: Avoiding Headaches

Companies implementing due diligence programs face a number of challenges. It is hard enough to identify all of a company’s third-party intermediaries – agents, distributors, customs and logistics representatives, nominees,...more

Effective Risk Management Needs More Ownership by Third Parties

Third-party arrangements continue to proliferate despite increased regulatory scrutiny meant to boost compliance with a variety of complex laws and regulations, making third-party risk management more important than ever....more

Exporter Liability for Freight Forwarder Issues

You are a small company that exports a wide variety of merchandise all over the world. Years ago, to save money, you contracted out all of your logistics functions to a third-party company which also serves as your warehouse...more

California Amends Data Breach Law

On September 30, 2014, California joined the trend and enacted amendments to its data security laws. First, the new law expands its scope to third-party service providers and businesses that do not just “own or license...more

The Mitford Sisters and the Compliance Audit

Deborah Cavendish died last week. She was the last surviving member of an extraordinary group of women known as the ‘Mitford Sisters’. They were six daughters of David Freeman-Mitford, the 2nd Baron Redesdale and the former...more

Premises Liability 101: Business owner liability for crimes on their property

The legal theory of premises liability holds property owners responsible for accidents and injuries that occur on their property. The law in this area is highly developed and can differ from state to state. Premises liability...more

Third Parties and Red Flags

The following is our second Q & A with Richard Bistrong. In your view why do sales representatives or front line business personnel engage in bribery or hire a third party for the express purpose of paying a...more

Facing the looming economic threat: Third parties retain the right to intervene in threatened industrial action

Third parties have retained the recently acquired right to intervene to protect their interests in the face of threatened industrial action. In response to a recent dispute, the Coalition government amended the Fair Work...more

Rating Agency Developments

On September 19, Fitch released its criteria for analyzing large loans within single-borrower or multiborrower U.S. CMBS transactions. On September 17, DBRS released its methodology for rating U.S. structured finance...more

More Than Due Diligence: Never-Ending Due Diligence

Due diligence of third parties can drive you crazy. You know you are in trouble when you start babbling to yourself and others about red flags, more red flags, and even more red flags. You can start thinking that the movie,...more

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