News & Analysis as of

Information Technology Third-Party Service Provider

A&O Shearman

EC publishes draft delegated regulation on subcontracting RTS under DORA

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On March 24 2025, the European Commission (EC) adopted the final draft Delegated Regulation setting out Regulatory Technical Standards (RTS) for subcontracting ICT services supporting critical or important functions under the...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Supply Chain Attacks in the UK: Reducing Risk and Preparing for Upcoming Legal Changes

Effective information security is no longer just dependent on an organisation’s own internal cybersecurity controls. The UK Information Commissioner’s Office (ICO) highlights that third-party service providers are processing...more

BCLP

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

BCLP on

Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

K&L Gates LLP

Digital Operational Resilience in the Financial Services Sector: EU and UK Update

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With under six months to go until the European Union Digital Operational Resilience Act (DORA) becomes applicable on 17 January 2025, DORA implementation projects are running full steam ahead. DORA lays down uniform...more

Mayer Brown

EU Cyber Legislation Puts Emphasis on Board Responsibility

Mayer Brown on

What is a Management Body? Under both DORA and NIS2, a management body can be a body with managerial and/or supervisory functions. The powers and structure of management bodies vary within the EU Member State, and managerial...more

Jones Day

NYDFS Expands Cybersecurity Regulations: Extortion Payment Reporting, Corporate Governance, and Technical Requirements

Jones Day on

A major amendment to the New York State Department of Financial Services' cybersecurity regulations establishes affirmative cybersecurity oversight duties and requires companies to report extortion payments to the agency....more

Pillsbury Winthrop Shaw Pittman LLP

Upcoming EU Rules on Digital Operational Resilience

There will be additional compliance obligations and mandatory contractual provisions introduced for financial entities and outsourced IT service providers. The new DORA seeks to strengthen the resilience of financial...more

Benesch

Protecting Your Business in a Digital World: Top 10 Questions for Internal Teams and Stakeholders

Benesch on

The questions below are intended to help in-house counsel obtain the most important information related to technology projects so they can evaluate risks to the company’s data, intellectual property, and commercial interests,...more

K&L Gates LLP

Exploring DORA: EU Tightens IT Security Rules for the Financial Sector, Targeting "Critical" Third-Party Providers

K&L Gates LLP on

In mid-December the European Union (EU) enacted new legislation aiming at harmonizing, and tightening, information technology (IT) security rules in the financial sector: Regulation (EU) 2022/2554 on digital operational...more

BCLP

Cyber laws will be updated to boost UK’s resilience against online attacks

BCLP on

The UK government confirmed on 30 November 2022 that there will be changes to the UK’s cybersecurity regulations in response to a public consultation launched earlier this year. This follows recent updates relating to the...more

Robinson+Cole Data Privacy + Security Insider

SolarWinds Hackers Focus on Downstream Vendors as Next Victims

In a blog post entitled “New activity from Russian actor Nobelium,” Microsoft’s V.P. of Customer Security & Trust Tom Burt discussed a recent alert issued by the Microsoft Threat Intelligence Center (MSTIC) regarding the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Updates Supervision and Examination Manual, Adds IT Examination

The CFPB updated its Supervision and Examination Manual by adding a new section titled Compliance Management Review – Information Technology. The new examination procedures are meant to assist CFPB examiners when assessing...more

Faegre Drinker Biddle & Reath LLP

Disruptionware VII: The Evolution of Disruptionware and the Growth of Ransomware as a Service (RaaS)

I have written multiple times about the danger of disruptionware to both Information Technology (IT) networks as well as Operational Technologies (OT) networks of victims globally. As discussed here, many different nefarious...more

Mitratech Holdings, Inc

What Is Shadow IT? Know the Basics!

As defined by Gartner, Shadow IT refers to IT devices, software and services outside the ownership or control of information technology (IT) organizations. These are any IT projects that are managed outside of – and...more

Hogan Lovells

NYDFS recommends critical new practices to reduce supply chain risk in wake of SolarWinds attack

Hogan Lovells on

On April 27, 2021, the New York State Department of Financial Services (“DFS” or the “Department”) released a report regarding its investigation into the response by DFS covered entities to the SolarWinds supply chain attack....more

Clark Hill PLC

Eight Data-Related Provisions That Might be Missing from Your Professional Services Agreement

Clark Hill PLC on

Modern business requires the engagement of professional services providers, such as IT services, marketing, software, data hosting, or other needed services. Far too often, though, the agreements governing these relationships...more

Morgan Lewis - Tech & Sourcing

Contract Corner: Planning for a Change in Service Providers

Planning for a change in service providers can sometimes feel like a logistical nightmare, but with proper planning and a long-term outlook, you can ward off operational issues that may arise during the process of...more

Jackson Lewis P.C.

Personal Data From Thousands Of Pension Plan Accounts Breached…Third-Party Service Provider Blamed

Jackson Lewis P.C. on

One of the last things pension plan participants would want to learn as they get ready to celebrate the Christmas holiday is that personal data from their pension accounts may have been compromised. This is the case,...more

Jackson Lewis P.C.

DHS IG Report Raises Questions About Department’s And Its Subcontractors’ Ability To Protect Biometric Information Following...

Jackson Lewis P.C. on

Earlier this month, our Immigration Group colleagues reported the Department of Homeland Security (DHS) would release a new regulation to expand the collection of biometric data in the enforcement and administration of...more

King & Spalding

Energy Newsletter - April 2020

King & Spalding on

Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Dept of Financial Services (NYDFS) Extends Cybersecurity Compliance Deadline

The NYDFS has announced that it has extended the deadline for compliance with certain cybersecurity requirements due to the coronavirus emergency. The announcement from the Superintendent of Financial Services of the State...more

BCLP

Getting The Deal Through - Cloud Computing 2020

BCLP on

What kinds of cloud computing transactions take place in your jurisdiction? As a G7 economy with mature IT and related services markets, the UK is one of the most important global markets for cloud computing. According to...more

Reveal

The eDiscovery Impostor and How to Spot Them

Reveal on

“To err is human,” but in an industry as seemingly driven by precision as eDiscovery, errors are all too common. Yes, mistakes are going to happen. Which is why we can fall back on processes and procedures to ensure that even...more

Association of Certified E-Discovery...

Three Ways E-Discovery is Just Like Baseball

Admittedly, I’m not the biggest sports buff. However, when I moved to Kansas City four years ago, what my family and I realized is that you can’t help not be a fan of the Royals, Chiefs, Jay Hawks, and Sporting! Everyone in...more

Latham & Watkins LLP

Outsource Service Providers to the Financial Services Industry - A Growth Sector for Buyout Firms

Latham & Watkins LLP on

Technology outsourcing by financial institutions (FIs) has increased in recent years as FIs look to the latest innovations to improve their day-to-day business processes and to reduce costs. FIs outsource key functions to a...more

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