News & Analysis as of

Third-Party Risk Assessment

McGlinchey Stafford

Bank Partnerships in an Evolving World

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Financial institutions have utilized service providers for a multitude of purposes over many years. The use of service providers has not historically been a controversial issue, and financial institutions have always had an...more

Ballard Spahr LLP

Federal Banking Agencies Issue Guide to Third-Party Risk Management Practices for Community Banks

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On May 3, 2024, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”), and the Office of the Comptroller of the Currency (“OCC”) jointly released the...more

Knobbe Martens

FDA Dataset Helps Firms Scrutinize Third-Party Chemistry Labs

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Medical devices that contact the human body undergo biocompatibility safety assessments prior to market release, including tests for physiochemical properties.  The Food and Drug Administration’s (FDA) Center for Devices and...more

Perkins Coie

CFPB Issues New Report Examining Financial and Privacy Risks to Consumers in Video Gaming Marketplaces: What Now?

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On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and...more

NAVEX

Compliance & Cybersecurity – Working and Worrying Together About the Intersection of People and Technology

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I’m not a cyber expert, but as a compliance professional with accountability for internal investigations of employee and third-party misconduct I’ve had a front row seat to the evolution of risk that has mirrored the mass...more

Vinson & Elkins LLP

Who’s to Blame: Texas Federal Court Finds Contractual Counterparty Not Liable for Third-Party Wire Transfer Fraud

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The facts are an oft-told business email compromise horror story: a hacker interjects themselves into an email discussion of a business deal, changes the wire instructions to their own account, and disappears with the...more

Miller Canfield

Artificial Intelligence in the Workplace: Spotlight on Confidentiality Concerns

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Generative artificial intelligence (“GAI”) has the potential to revolutionize efficiency and productivity in our day-to-day working lives. But while this technology is becoming more sophisticated by the day, companies should...more

Society of Corporate Compliance and Ethics...

Third-party due diligence: Are supplier questionnaire(s) the answer?

Numerous laws (U.K. Bribery Act guidance document, German Supply Chain Act, Foreign Corrupt Practices Act resource guide, OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and...more

Constangy, Brooks, Smith & Prophete, LLP

Take these steps to safeguard against third-party cyber threats

The ever-increasing privacy and security risks via third-party vendors and service providers were apparent in 2023 with news of large organizations such as MOVEit, Okta and AT&T being affected. Research has shown that 98...more

Foley & Lardner LLP

What Every Multinational Company Should Know About . . . Implementing an International Compliance Program (Part II)

Foley & Lardner LLP on

In our prior update (published November 29), we provided the first five steps in our twelve-step program for international compliance. These steps are intended to help companies identify international regulatory risk inherent...more

Husch Blackwell LLP

CPPA Publishes Proposed Revisions to CCPA Regulations

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Keypoint: The Agency proposed more revisions to the CCPA regulations for consideration at the December 8 board meeting. On December 1, 2023, the California Privacy Protection Agency (Agency) published proposed revisions to...more

Stevens & Lee

Evading Transaction Roadblocks: Strategies for Common Late-Stage Dealbreakers

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After completing the arduous task of preparing to sell a business and agreeing to the terms in principle for a transaction in which a business owner will sell his or her “life’s work,” selling business owners (“Seller” or...more

Dunlap Bennett & Ludwig PLLC

The Complexity Of Digital Privacy Law—Insights And Implications

The digital age has ushered in a host of transformative opportunities for businesses, from enhanced customer engagement through data analytics to streamlined operations via digital platforms. However, this digital...more

Health Care Compliance Association (HCCA)

[Event] Healthcare Privacy Compliance Academy - December 11th - 14th, Orlando, FL

Designed for professionals with some compliance knowledge and experience, HCCA’s Healthcare Privacy Compliance Academy is ideal for practitioners who want a deeper understanding of effective compliance management in a...more

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

OSHA Proposes Rule to Allow Third Parties to Participate in Workplace Walkaround Inspections

On August 30, 2023, the Occupational Safety and Health Administration (OSHA) published a proposed rule that would change the scope of who would be allowed to participate in walkarounds conducted as part of OSHA inspections. ...more

Hinch Newman LLP

FTC and HHS Warn Hospital Systems and Telehealth Providers About Use of Technologies That Share Sensitive Health Information

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The Federal Trade Commission and the U.S. Department of Health and Human Services' Office for Civil Rights are cautioning hospitals and telehealth providers about the privacy and security risks related to the use of online...more

Amundsen Davis LLC

Insights from the OCC Semiannual Risk Perspective

Amundsen Davis LLC on

On June 14, 2023, the Office of the Comptroller of the Currency (OCC) published its Semiannual Risk Perspective which identifies key issues facing the federal banking system. This highly anticipated report comes in the wake...more

Health Care Compliance Association (HCCA)

[Event] Healthcare Privacy Compliance Academy - August 21st - 24th, Washington, DC

Designed for professionals with some compliance knowledge and experience, HCCA’s Healthcare Privacy Compliance Academy is ideal for practitioners who want a deeper understanding of effective compliance management in a...more

StoneTurn

5 Tips For Meeting DOJ’s New CCO Certification Requirements

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The DOJ has signaled that CEO and CCO certifications will become a staple of all corporate settlement agreements. Critics worry CEOs and CCOs face undue personal liability and argue it will dissuade CCOs from accepting the...more

Paul Hastings LLP

China Enhances Scrutiny for Cross-Border Data Transfer that would Impact Multinational Companies

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1. Introduction- China’s cross-border data transfer rules are unfolding in real time and taking clearer shape. On July 7, 2022, China’s cybersecurity regulatory agency, the Cyberspace Administration of China (“CAC”), issued...more

Lowenstein Sandler LLP

Effective and Efficient Pre-Transaction FCPA Diligence: How to Leverage Compliance and ESG to Avoid Buyer’s Remorse and Other...

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The arduous process of FCPA compliance requires risk teams to digest and cross-reference a morass of information – from internal data analysis to human representatives collecting interviews on the ground. Diligence failures...more

Morgan Lewis - All Things FinReg

The Antitrust Risk of the Federal Banking Agencies’ Proposed Risk Management Guidance

As highlighted previously, three federal banking agencies (the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency) recently issued proposed risk management...more

Thomas Fox - Compliance Evangelist

Exiger TRADES Framework: Part 2-Assess Current Risks and Determine Mitigations

Exiger has developed the TRADES Framework, a conceptual, strategic and practical guide for Third-Party and Supply Chain Risk Management designed by Exiger to help organizations achieve supply chain resiliency and optimize...more

Alston & Bird

New York and Illinois Regulators Recommend Third Party Cybersecurity Review For Specific Vulnerabilities

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This month, the Illinois Department of Insurance issued guidance to insurers recommending assessments in response to a Microsoft Exchange vulnerability, detailed in the guidance. In the Bulletin dated May 5, the Department...more

Society of Corporate Compliance and Ethics...

Thobekile Cynthia Khumalo on Third Party Due Diligence

Dubai-based compliance veteran Cynthia Khumalo (LinkedIn) is heavily focused on third party due diligence. It’s a difficult task for companies in normal times, but it’s all the more difficult these days. In this podcast she...more

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