Compliance Perspectives: Compliance’s Role in Vendor Contracts
Day 17 of One Month to More Effective Compliance for Business Ventures- Corporate Controller and Business Ventures
On July 11, 2024, the New York Department of Financial Services (“NYDFS”) released Insurance Circular Letter No. 7, which establishes guidelines on the use of artificial intelligence systems (“AIS”) and external consumer data...more
Since the release of OpenAI’s ChatGPT, the intense hype around large language models (LLMs) and complex AI systems has exploded. Organizations have rushed to both try and buy these new tools. Along with it, a flood of...more
On July 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) adopted final rules relating to enhanced cybersecurity disclosures, which became effective on September 5, 2023 (the “Final Rules”). Beginning in December...more
Tech Vendors and Cybersecurity – Are They Responsible? It has long been recommended that when you contract with a technology vendor that you include an indemnity clause in the contract wherein the vendor will indemnify you...more
This presentation will cover what you need to know to avoid unnecessary legal risk and imbalanced risk allocation. A concise look at the latest trends, key provisions, and common tricks in commercial contracts, as well as a...more
The Federal Trade Commission is putting more teeth into the multiyear compliance obligations of consent orders it enters into with companies to settle enforcement actions related to data breaches. The FTC recently issued a...more
In this episode, Linda Odom and Ernest Simons discuss the increase of M&A deals and investors’ due diligence regulatory concerns. The episode also addresses the implications of contracts for consumer, business, and vendor and...more
A challenging risk management project that many clients are addressing is vendor management. Ever since the Target breach, when an HVAC vendor’s employee clicked on a phishing email that allowed an intruder to compromise...more
Security researchers and cybersecurity experts recently discovered a weakness in Fiserv’s web platform, which may have exposed the personal and financial details of customers across hundreds of internet banking sites. The...more
The Office of the Comptroller of the Currency (OCC) recently issued supplemental guidance (Bulletin 2017-21) on third-party risk management. Responding to questions raised by banks and federal savings associations since the...more
On February 3, 2015 the Financial Industry Regulatory Authority (FINRA) released its long-awaited Report on Cybersecurity Practices, a broad overview of the state of play in the cybersecurity arena for broker-dealers....more