News & Analysis as of

Third-Party Agents

Illinois Supreme Court Fundamentally Limits the Ability to Sue Non-Illinois Corporations

by Polsinelli on

Following recent precedent from the U.S. Supreme Court, the Illinois Supreme Court limited the circumstances in which a non-resident corporate defendant can be subject to suit in Illinois on claims with no connection to the...more

Third Party Administrator Update: TPA Regulatory and Legislative Developments

by Polsinelli on

Polsinelli is pleased to share the September 2017 Third Party Administrator Newsletter. The link is provided below. This newsletter covers topics throughout the year that impact TPAs. Please see full Publication below for...more

Issuance of Part I of CFPB Debt Collection Rule is imminent

by Ballard Spahr LLP on

Much attention has been devoted to the issuance very soon of the CFPB’s small-dollar lending rule. I thought that once that rule was issued, Richard Cordray would soon thereafter resign as Director to return to Ohio to run...more

Employee Benefits Developments - August 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of August, 2017. Affordable Care Act – “I’m not dead yet!” - The Patient Protection and Affordable Care Act...more

New Connecticut Insurance Department Bulletin on Data Security Requirements

by Polsinelli on

Connecticut Bulletin MC-23. The Connecticut Insurance Department issued Bulletin MC-23 on June 13, 2017. The Bulletin addresses certification and notice requirements for data security requirements applicable to TPAs and PBMs...more

Director Corday announces extension of comment period for small business lending RFI, restructuring of debt collection rulemaking

by Ballard Spahr LLP on

In his prepared remarks for the Consumer Advisory Board meeting held on June 8, 2017, Director Cordray discussed CFPB initiatives in four areas. In addition to the CFPB’s letter to the top retail credit card companies...more

Human Trafficking and Smuggling – A Compliance Requirement

by Michael Volkov on

The problem of human trafficking and smuggling is staggering when you consider the human impact behind the numbers. Human trafficking is a $30 billion industry annually. There are more people in slavery today than at any time...more

New Indiana Insurance Department Bulletin Changes TPA Licensing and TPA Renewals

by Polsinelli on

A recent Indiana Department of Insurance Bulletin announces a change regarding how the Department will issue initial third party administrator licenses and renew existing licenses for nonresident third party administrators in...more

Western Union to Pay $586 Million in Restitution and Civil Penalties for AML Compliance Failure - Alabama Bankers Association...

On Jan. 19, Western Union Financial Services, Inc. agreed to pay civil penalties and restitution to victims of fraud totaling $586 million to resolve actions brought by the U.S. Treasury Department’s Financial Crimes...more

Western Union to Pay $586 Million in Restitution and Civil Penalties for AML Compliance Failure

On January 19, 2017, Western Union Financial Services, Inc. agreed to pay civil penalties and restitution to victims of fraud totaling $586 million to resolve actions brought by the U.S. Treasury Department’s Financial Crimes...more

Mondelez FCPA Enforcement Action — An Abuse of Prosecutorial Discretion?

by Michael Volkov on

The first FCPA enforcement action for 2017 landed with very little fanfare. The SEC reached a settlement with Mondelez International for $13 million. The facts surround the hiring of an agent in India and the failure of...more

General Cable FCPA Enforcement Action – Part III: The Denouement

by Thomas Fox on

This week I have been exploring the General Cable Corporation (General Cable) Foreign Corrupt Practices Act (FCPA) enforcement action. It was settled with the Department of Justice (DOJ) via a Non-Prosecution Agreement (NPA)...more

This Definition Of A Factor May Surprise You

by Allen Matkins on

The creditable H.W. Fowler described “factor” as “one of those words . . . which are so popular as thought-saving reach-me-downs that all meaning is being rubbed off them by constant use.” Fowler’s Modern English Usage (2d...more

Eleventh Circuit Confirms that Issuers are not Required to Disclose Retention of Outside Promotional Firms

by King & Spalding on

On December 15, 2016, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a securities class action against Galectin Therapeutics Inc., a Georgia-based biotechnology company. The suit...more

Dismissal for Drugmaker Affirmed: Galectin Had No Duty to Disclose Payments to Promoters

by Carlton Fields on

In re: Galectin Therapeutics, Inc. Securities Litigation, No. 16-10324, 2016 WL 7240146, ____ , F2d ___ (11th Cir. Dec. 15, 2016). The Eleventh Circuit recently addressed the circumstances under which a public company...more

Defence & Indemnity - August 2016: II. LIABILITY ISSUES #2

by Field Law on

B. There is no vicarious liability for an occupier of land for the negligence of an independent contractor on the basis of agency. Heikkila v. Apex Land Corporation, 2016 ABCA 126 [4191]...more

From Altamont to Airbus

by Thomas Fox on

What was one of the most tragic events in the history of rock and roll? High up on the list must rank the Altamont concert, held at Altamont Race Track on December 6, 1969. It was so bad that many people felt the 60s actually...more

The Importance of Risk Ranking to Compliance

by Michael Volkov on

We all face a number of risks every day. Yet, we do not respond to each and every risk. We engage in risk-ranking our responses. Some are more risk than others and some are more catastrophic than others. So, we engage in risk...more

Dead Before the Ink is Dry? EU Approves Privacy Shield Text

by Womble Bond Dickinson on

After months of uncertainty, the U.S. again has a framework of rules to follow that will govern U.S. business’ use of EU residents’ data. The European Commission approved the text of the EU-U.S. Privacy Shield (the “Privacy...more

Third Party Administrator Update: TPA Regulatory and Legislative Developments

by Polsinelli on

Polsinelli is pleased to share the June 2016 Third Party Administrator Newsletter. This newsletter covers topics throughout the year that impact TPAs. Information specific to Polsinelli's TPA practice is also included....more

Supreme Court Declines Review of D.C. Circuit’s Decision Upholding DOL Home Care Rule as Regulatory and Litigation Focus on Home...

by Littler on

On June 27, 2016, the U.S. Supreme Court denied the plaintiffs’ petition for a writ of certiorari in Home Care Association of America v. Weil, leaving the U.S. Department of Labor’s (“DOL”) Home Care Rule intact. The Home...more

EEOC Weighs in on Leave as a Reasonable Accommodation

by Littler on

On May 9, 2016, the Equal Employment Opportunity Commission (EEOC) issued a resource document addressing the rights of employees with disabilities who seek leave as a reasonable accommodation under the Americans with...more

Pennsylvania Audits Public Companies for Unclaimed Securities

by Reed Smith on

Holders that use third-party transfer agents, such as Computershare, should check their mailboxes, as they are likely to have a notice from Pennsylvania of an unclaimed property audit. Pennsylvania has engaged...more

You’ve Been Notified: Alabama May Join Other States in Enacting Data Breach Notice Law

by Butler Snow LLP on

Forty-seven states and the District of Columbia have laws requiring notice of a data breach to potentially affected individuals. Alabama may soon join the crowd. Bills creating the Alabama Information Protection Act of...more

Federal Regulators Clarify Bank CIP Obligations for Prepaid Cardholders

by WilmerHale on

Banks and credit unions that issue reloadable, general purpose prepaid cards must apply Customer Identification Program (CIP) procedures to those cardholders, according to guidance issued by the federal banking regulators and...more

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Cybersecurity

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