Vendors

News & Analysis as of

New Jersey Tax Court Clarifies Sales Tax on Software

The New Jersey Tax Court recently issued a decision concluding that pre-written software sold on tangible media was tangible personal property for New Jersey sales tax purposes. Notwithstanding this decision, most business...more

What are you doing to prevent a data breach

A broker-dealer recently agreed to pay a $650,000 fine after an OSJ’s cloud vendor failed to adequately protect customer information. Apparently, an outside hacker was able to gain access to non-public personal information...more

U.S. Navy Announces Breach of 134,386 Sailors’ Information from Laptop of Vendor

The U.S. Navy has revealed that it has been notified by one of its vendors that a laptop of the contractor was the source of a data breach that compromised the names and Social Security numbers of 134,386 current and former...more

Coordinating Third Party Due Diligence and Procurement

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

Got Vendors? Guidelines for Third-Party Vendor Management

Third-party service providers are critical for startups’ growth. Independent developers, designers, marketing firms, and data analysts (among others) provide valuable services, but they also present difficult and unique...more

DFS Cyber Regulation: Part II – An Interview with Bay Dynamics’ Steven Grossman

This is the second installment in our interview with Steven Grossman, VP Strategy & Enablement at Bay Dynamics, the cyber risk analytics company. Here, Steven discusses the importance of aligning an institution’s risk...more

Law Firms and Vendors Mandated to Up Their Cyber Game: Final Installment in a 3-Part Series

This is our final installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation.  In this installment, we provide an overview of the regulation’s impact...more

Reviewing Third Party Vendor Service Contracts

Managing third party vendor relationships has always been an important function in banks. More recently it has become a hot topic for state and federal financial bank regulators. The increasing complexity of what vendors are...more

Guidelines for Third-Party Vendor Management Programs

Third-party service providers present difficult and unique privacy and cybersecurity challenges. Vendor management is important throughout the life of your relationship with your vendors. Vendor diligence starts during the...more

OCR Explains How Information Blocking Violates HIPAA

The US Department of Health and Human Services Office for Civil Rights recently posted guidance clarifying that a business associate such as an information technology vendor generally may not block or terminate access by a...more

HHS Issues Guidance Regarding Importance of Business Associate Agreements Between Covered Entities and Cloud Services Vendors

The Health and Human Services Office for Civil Rights (OCR) recently issued guidance regarding the importance of covered entities and cloud service vendors maintaining business associate agreements (BAAs) where electronic...more

Insurance Regulators Fine Tuning Cybersecurity Guidance

You may not realize how much personal information your insurance company has about you. Scarier still is that much of this data is sensitive and valuable to hackers – such as your Social Security number, financial...more

Stinson Leonard Street's Emerging Trends Newsletter - Q3

We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

The New York State Department of Financial Services Proposes Robust Cybersecurity Rules

On September 13, 2016, the New York State Department of Financial Services (DFS) proposed new rules that would require certain “Covered Entities” to establish and implement cybersecurity programs designed to protect nonpublic...more

Unsecured Creditor Carve-outs: Chapter 11 Misery Makes Strange Bedfellows

There are a number of "creditor remedies" that can be utilized to maximize recovery from an insolvent customer. This article addresses one such "remedy": a carve-out from the pre-petition secured lender. Please see...more

Recent Delaware Chapter 11 Case Supports Vendors' Reclamation Claims

Recently, the Delaware Bankruptcy Court ruled that a vendor's reclamation trumped a lender's lien on inventory. Please see full Article below for more information....more

Know Thy Software Vendor: Website Operator Cannot Sidestep Copyright Infringement Claims over Link to Allegedly Infringing...

Last month, a New York district court refused to dismiss most of the copyright infringement claims asserted against a website operator based on an allegation that the website linked to an infringing copy of plaintiff’s...more

Compliance Academy in Brazil Sells Out! Adam Turteltaub Discusses How the World Is Changing [PODCAST]

Fresh from the SCCE International Academy in Brazil, Adam Turteltaub joins me on the Masters of Disaster® podcast. Despite the fact that the Brazilian currency has devalued relative to the dollar, the Academy in Sao Paulo was...more

New York's DFS Proposed Cybersecurity Regulations for Financial Institutions

New York's Department of Financial Services (DFS) has a proposed broad-reaching cybersecurity regulation that would impose new corporate governance, risk management and vendor management requirements on banks and other...more

Contract Corner: Term (Part 2)

In our earlier Contract Corner post, we reviewed issues related to the term of a contract. In Part 2, we discuss considerations regarding renewal of that term. Renewal: Practical Considerations - Many contracts...more

Part 3 of Reviewing Third Party Vendor Service Contracts, a Seven Part Guide

This is part 3 of a Seven Part Guide to reviewing vendor contracts. The previously published parts are also available. Location of where the work to is to be performed. Domestic locations. Where is the vendor...more

10 Questions to Ask your Law Firm Vendor Management Program (Part 2)

We previously provided you five questions to determine whether your law firm vendor management program is sufficiently comprehensive. Given the attention drawn to such programs by regulators such as Office of Comptroller of...more

Part 2 of Reviewing Third Party Vendor Service Contracts, a Seven Part Guide

This is part 2 of a Seven Part Guide to reviewing vendor contracts. Recitals. Some contracts will contain several “WHEREAS” clauses at the inception of the document followed by a recitation of various facts about...more

Beware the Booty-Encrusted Hook: Cybersecurity Vendors Should Use Caution Approaching GSA’s IT-70 Solicitation for Highly Adaptive...

Machiavelli – yes, that Machiavelli – knew a thing or two about working with a powerful government. In his most well-known writings, Machiavelli opined on both the application of power and importance of intellect when...more

Reviewing Third Party Vendor Service Contracts, a Seven Part Guide

Managing third party vendor relationships has always been an important function in banks. More recently it has become a hot topic for state and federal financial bank regulators. The increasing complexity of what vendors are...more

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