News & Analysis as of

Verification Requirements Compliance

DarrowEverett LLP

Less Red Tape, More Capital? SEC Clarifies 506(c) Verification Rules

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On March 12, 2025, the Securities and Exchange Commission (“SEC”) issued a significant no-action letter clarifying the use of high minimum investment amounts as a method for verifying accredited investor status under Rule...more

DLA Piper

EU: Engaging Vendors in the Financial Sector: EDPB Clarifications Mean More Mapping and Management

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The European Data Protection Board (“EDPB“) adopted an opinion on 7 October 2024, providing guidance for data controllers relying on processors (and sub-processors) under the GDPR....more

Mitratech Holdings, Inc

Navigating the Digital Landscape of Employee Verification

Tired of the constant I-9 updates? Wondering about Virtual I-9 verification? HR professionals have been on a wild ride lately. From new forms to stricter deadlines, the USCIS seems to have a never-ending supply of changes....more

Mitratech Holdings, Inc

Choosing the Right Software for Background Searches: Key Features to Consider

Background checks are essential in hiring, but many HR leaders skip them to save time. This approach causes headaches, so many employers turn to background search software. But with so many options available, how do you...more

Foley & Lardner LLP

IRS Releases Proposed Regulations for Section 45V Hydrogen Production Credit

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Last week, the Internal Revenue Service (“IRS”) and Department of the Treasury published proposed regulations (the “Proposed Regulations”) relating to the tax credit for production of clean hydrogen under Section 45V of the...more

Spilman Thomas & Battle, PLLC

The Accreditation Overhaul for North Carolina (and Florida) Colleges

Last month, North Carolina Governor Roy Cooper signed House Bill 8 (HB 8) into law. In addition to establishing a new computer science requirement for high school graduation and certain age verification requirements to...more

Mitratech Holdings, Inc

10 Critical Elements of Background Check Software

In today’s competitive job market, conducting thorough background checks on potential employees is crucial. Background check software is one of the most comprehensive ways to ensure pre-employment screening is done correctly....more

J.S. Held

Crosscurrents: Boards of Directors & Greenhouse Gas Verification – Working Toward Sustainability Compliance

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Boards of Directors, Compliance Responsibilities, and How They Contribute to Overall Success - Boards of Directors are the lynchpin to effective sustainability programs. Effective sustainability programs can only be...more

Foley & Lardner LLP

DHS Grants Additional Time for Full Form I-9 Compliance after Temporary Flexibility Procedures End and Provides Update on Future...

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In a May 4, 2023, announcement, the U.S. Department of Homeland Security (DHS) granted employers through August 30, 2023, to complete the physical document inspection required for Form I-9, Employment Eligibility...more

Mitratech Holdings, Inc

Department of Homeland Security Proposes Big Changes to I-9 Form and Process

The current form expires on October 31, 2022. Form I-9 is a United States Citizenship and immigration services form that is used to verify and record employment eligibility for new hires. Officially called Employment...more

Perkins Coie

DoD’s Cybersecurity Rule Will Expand Assessments of Defense Industry to Safeguard Unclassified Information, Raising New...

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The U.S. Department of Defense (DoD) has issued a long-awaited interim rule to safeguard unclassified information in the possession of defense contractors by making periodic assessments of a company’s cybersecurity compliance...more

White & Case LLP

The California Consumer Privacy Act Regulations Are Finally Here, But Wait There’s More…

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On August 14, 2020, California’s Office of Administrative Law (“OAL”) approved the final version of the implementing regulations for the California Consumer Privacy Act (“Final Regulations”). The approval of these final...more

Society of Corporate Compliance and Ethics...

Compliance Perspectives: Due Diligence and Ultimate Beneficial Ownership (UBO)

For financial services firms understanding who the Ultimate Beneficial Owner (UBO) of a corporation is has become a central compliance task. As Ellen Lafferty explains in this podcast and in the new edition of The Complete...more

The Volkov Law Group

California AG Issues California Consumer Privacy Act Regulations

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Last month, the California Attorney General released draft regulations for the California Consumer Privacy Act (CCPA).  (Here). The regulations focus on three primary areas: (1) consumer notices; (2) consumer requests for...more

Sunstein LLP

California Leads the Nation in Privacy Protection, But To Where?

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The California Consumer Protection Act (CCPA) is scheduled to take effect on January 1, 2020. In recent days: - The Governor of California signed into law seven CCPA amendments, - The California Attorney General...more

Jones Day

California Attorney General Issues Draft CCPA Regulations - The draft regulations help to clarify the requirements under the...

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On October 10, 2019, the California attorney general released long-awaited proposed regulations under the California Consumer Privacy Act ("CCPA"). These regulations provide much-needed guidance on the CCPA requirements,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Tackling the Challenges of Complying With FinCEN’s New Customer Due Diligence Rule

Effective May 11, 2018, covered financial institutions are required to comply with the customer due diligence rule (the Rule) that the Financial Crimes Enforcement Network (FinCEN) finalized in May 2016. The Rule mandates the...more

Harris Beach Murtha PLLC

Customer Due Diligence Deadline Nears

Financial institutions face a pending deadline to meet new customer due diligence requirements. FinCEN has issued updated Frequently Asked Questions to assist financial institutions in understanding the scope of the...more

Foley Hoag LLP

Policy Statement Released Concerning the Custody Rule for Massachusetts-Registered Investment Advisers

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In light of custody-related deficiencies identified by the Massachusetts Securities Division in recent examinations of Massachusetts-registered investment advisers, the Division released a Policy Statement on November 14,...more

Bennett Jones LLP

CBSA Establishes Trade Compliance Verification Priorities 2013

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The Canada Border Services Agency has announced its compliance verification priorities for 2013. For tariff classification purposes, they include a number of consumer goods (pet toys, fresh cut flowers, coconut milk, pickles,...more

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