Third-Party Service Provider

News & Analysis as of

NYDFS Letter: “Potential” Cybersecurity Regulations for Insurers

On November 9, 2015, the New York Department of Financial Services (NYDFS) issued a letter that describes what insurers can expect from the Department’s ongoing assessment of cybersecurity measures. The letter parallels...more

PRA reminds firms of outsourcing notification expectations

PRA has noted FCA’s consultation on outsourcing guidance and reminded dual-regulated firms it would expect notification from them if they are considering outsourcing critical or important functions to a third party IT...more

Cookies, Promises, and California: Why the 3rd Circuit Revived Privacy Claims Against Google

Last week, the U.S. Court of Appeals for the Third Circuit revived several privacy claims against Google pertaining to the Internet company’s practice of side-stepping “cookie blockers” on Microsoft’s Internet Explorer and...more

SEC Sanctions Adviser for Misstatements in Advertisements, Client Presentations and Regulatory Filings

The SEC found that a registered investment adviser that operates as a “manager of managers” misstated a sub-adviser’s investment performance in communications with its clients, potential clients and the SEC. According to the...more

NFA Adopts Cybersecurity Guidance

The National Futures Association (NFA) adopted on October 23, 2015 an “Interpretive Notice to NFA Compliance Rules 2-9, 2-36, and 2-49: Information Systems Security Programs” (Notice). The Notice requires each NFA Member to...more

Department of Education Finalizes Rules Affecting Federal Student Loan Borrowers

On October 27, the Department of Education announced final regulations regarding how students access Federal student aid and implementing a Revised Pay As You Earn (REPAYE) program. The new rules addressing access to Federal...more

MoFo Tax Talk - Volume 8, No. 3

Final and Temporary Dividend Equivalent Regulations Issued – Some Good, Some Bad, And Some Ugly: On September 17, 2015, the Internal Revenue Service (“IRS”) released final and temporary regulations under Section 871(m),...more

NIST seeks comments on Privacy-Enhanced Identity Brokers project document

The National Cybersecurity Center of Excellence, in partnership with the National Strategy for Trusted Identities in Cyberspace National Program Office, have launched a project designed to embed privacy and security measures...more

CFTC Approves NFA Interpretive Notice on Information Systems Security Programs, Including Cybersecurity Guidance

The CFTC recently approved the National Futures Association’s interpretive notice (the “Cybersecurity Notice”) on the general requirements that members should implement for their information systems security programs...more

Precedential Cloud Victory in Michigan Court of Appeals

On October 27, 2015, a three-judge panel sitting for the Michigan Court of Appeals unanimously affirmed a lower court decision finding that the use of cloud-based services in Michigan is not subject to use tax in Auto-Owners...more

FTC Announces Agenda, Panelists for Lead Generation Workshop Addressing Consumer Protection Issues

On October 19, the FTC announced the agenda for its upcoming workshop entitled, “Follow the Lead: An FTC Workshop About Online Lead Generation.” As consumers search the internet for goods and services, they are often times...more

The Third Circuit Gives the Green Light to RICO Plaintiffs Seeking to Recover Payments for Prescription Drugs

This week, the Third Circuit altered the legal landscape for civil Racketeer Influenced and Corrupt Organizations Act (RICO) claims against pharmaceutical companies. The ruling in In re Avandia Marketing, Sales Practices &...more

Focusing on Due Diligence (Part II of IV)

He that can have patience can have what he will. – Benjamin Franklin Putting together an effective due diligence system requires patience. I freely admit that I am not a patient person, especially when it comes to...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

Everybody’s Talkin’ At Me: 5 Things Clients Should Be Talking About

E-discovery is complex, even for the most sophisticated corporations. A wrong turn or inadvertent misstep can send the case spiraling down quickly, not to mention what it can do to your budget. Here’s what we believe clients...more

US Safe Harbor Framework declared invalid - How to continue legally transferring personal data to the United States

Summary of the ruling: October 6, 2015, in a ground-breaking judgment, the Court of Justice of the European Union declared the US Safe Harbor framework to be invalid, and confirmed that individuals have the right to...more

American Thrift Stores announces data breach

American Thrift Stores announced this week that like other retailers, it has been hit with a security breach “that occurred through software used by a third-party service provider” that allowed “criminals from Easter Europe”...more

Experts cite employee wellness programs as area of data privacy concern

In an effort to curb rising healthcare costs, many employers have introduced wellness programs, which use assessments and motivators to improve employee health. Such programs collect information from various sources including...more

CFPB urged to consider “unintended consequences” of debt collection regulations

A new article by Todd Zywicki for the Mercatus Center at George Mason University urges the CFPB to consider the “unintended consequences” of new debt collection regulations and conduct a careful cost-benefit analysis before...more

Georgia Court Sheds Light on CFPB’s Power to Sue Companies that ‘Recklessly Provide Substantial Assistance’

On September 1, 2015, the Consumer Financial Protection Bureau (“CFPB”) won an important decision in which a federal court, for the first time, interpreted the meaning of “recklessly provid[ing] substantial assistance” under...more

California Joins Other States with the Passage of CalECPA

Law enforcement requests for electronic information, particularly from technology companies such as Google and Twitter, have skyrocketed in recent years. In response, several states—Maine and Texas in 2013, Utah in 2014 and...more

FDA Releases First Wholesaler and 3PL Facility Licensure Data to the Public

Last week FDA took another important step in implementing the complex and interlocking provisions of the Drug Supply Chain Security Act (DSCSA). We have previously discussed the new Federal drug traceability requirements and...more

Supreme Court Denies Further Stay of Department of Labor's Home Care Rule; Effective Date is Imminent

On August 21, 2015, the U.S. Court of Appeals for the D.C. Circuit upheld the U.S. Department of Labor’s (DOL) Home Care Rule and reversed the lower court’s decisions vacating the new rule. On October 6, 2015, the U.S....more

FTC Gives Words of Warning to the Wise

The Federal Trade Commission has issued new guidance on data security to help businesses that collect, store and use consumer information to stay out of hot water with the agency. Gleaned from the more than 50...more

Clouding Up Trade Secret Protections

“The cloud” can refer to a lot of things, and is frequently a misunderstood concept. While cloud computing can encompass a number of Internet-based functions, in its simplest form, “the cloud” merely refers to the use of...more

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