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Third-Party Service Provider Regulatory Standards

Benesch

Key Considerations in Developing a Comprehensive AI Governance Policy and Mitigating Risks of AI Use

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Crafting an AI Governance policy best suited for your business requires careful consideration of the types of AI, how AI will be used, current and future legislation, and a group of individuals specifically designated to...more

Morrison & Foerster LLP

CFTC Staff Issues Advisory on the Use of Artificial Intelligence

Morrison & Foerster LLP on

On December 5, 2024, the U.S. Commodity Futures Trading Commission’s (“CFTC”) Divisions of Clearing and Risk, Data, Market Oversight, and Market Participants (together, the “Divisions”) issued a staff advisory (the...more

ArentFox Schiff

DFS Issues Circular Letter Addressing Cybersecurity Risks Related to AI

ArentFox Schiff on

On October 16, the New York Department of Financial Services (DFS) issued a circular letter addressing cybersecurity risks related to the increasing use of artificial intelligence (AI) in relation to insurers, insurance...more

Foley & Lardner LLP

SEC Tightens Cybersecurity Requirements with Regulation S-P Amendments

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Share on Twitter Print Share by Email Share Back to top “The basic idea for covered firms is if you’ve got a breach, then you’ve got to notify. That’s good for investors.” Those were among the remarks that U.S. Securities and...more

WilmerHale

UK Regulators Proposed Framework for Critical Third Parties

WilmerHale on

Financial services firms are increasingly reliant upon third-party companies to provide important services, ranging from cloud services and data analytics to machine learning and cash distribution. As these third parties...more

Burr & Forman

Eleventh Circuit Holds Transmitting Consumer Information to Third Parties Exposes Debt Collectors to Liability under the FDCPA

Burr & Forman on

In a decision that could throw the debt-collection industry into turmoil, on April 21, 2021, the Eleventh Circuit Court of Appeals released its opinion in the case Hunstein v. Preferred Collection & Mgmt. Servs., Inc., No....more

Latham & Watkins LLP

Open Finance: The Next Frontier in Fintech?

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Call for input: Industry needs to engage as the FCA moves forward on its transformative vision for open finance. Imagine a world in which you could access your bank accounts, credit cards, mortgage, pensions, savings...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

Latham & Watkins LLP

New Challenges for Transitional Services Agreements in Financial Services M&A

Latham & Watkins LLP on

Subcontractors, security, and audit and termination rights will require special consideration under forthcoming EBA outsourcing guidelines. Recent growth in divestiture and carve-out deals in the M&A landscape, including...more

Carlton Fields

Cryptocurrency Regulatory Complexities Multiply

Carlton Fields on

Firms seeking to integrate digital assets into their business — including the sale of insurance or securities products and services — must grapple with the potential applicability of money transmission regulation that varies...more

Ballard Spahr LLP

OCC report identifies use of third-party service providers and consumer compliance as key risks for federal banking system

Ballard Spahr LLP on

Last week, the OCC released its Semiannual Risk Assessment for Fall 2017 highlighting credit, operational, and compliance risks to the federal banking system. ...more

Sheppard Mullin Richter & Hampton LLP

Scrambling After an Egg Crisis – EU Safety Guidance for Online Product Sales

EU food safety authorities are still feeling the repercussions of the insecticide-contaminated eggs crisis. That crisis highlights the many challenges of dealing with unsafe and non-compliant products in a single European...more

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