Effective March 1, 2017, first-in-kind regulations issued by the New York Department of Financial Services (New York DFS) will begin to affect a wide array of both depository and non-depository financial institutions. The new regulations will cascade certain requirements upon these financial institutions’ third-party service providers, requiring the financial institutions…
“We will follow two simple rules: buy American and hire American.” While world leaders are pondering what these words from President Trump’s Inaugural Address mean for international trade, a different question looms for U.S. Government contractors—what is on the horizon as far as the Buy American Act and similar protectionist…
Recently our Global Sourcing and Technology Transactions team members published a report for SCL on Issues in Global Sourcing Transactions. Their report focuses on how in an increasingly globalized world, outsourcing contracts often have multi-jurisdictional scope. Before putting pen to paper, lawyers should consider with their clients the most appropriate…
UK’s Industrial Strategy announced—new Government contracting approach will favour UK-based firms after Brexit. UK Government spending currently runs circa £278 billion per annum. Government contractors will be given priority when bidding for UK Government work after Brexit. International players should take note and design their organization and operating models accordingly.…
The FCA has fined Aviva, the UK insurance group, £8.2 million for failing to have appropriate controls over its outsourced service providers. According to the FCA’s press release, the fine would have been even larger at £11.8 million but for a 30% discount due to Aviva for agreeing with the…
Should what goes out come back in? In a recent guest blog for MRO-Network.com the bringing back in-house of functions that have previously been outsourced. From regaining control of business-critical functions to increased flexibility and simplified purchasing, Mike and Caron examine the benefits and challenges of returning functions to the fold.…
The UK’s financial services regulator, the Financial Conduct Authority (FCA), has recently published summaries of the responses it received to a Call for Inputs (CfI) on the use of big data in the retail general insurance (GI) sector as well as outlining its responses to the issues raised. Insurance companies,…
If you operate a website which does business with consumers based in the European Union, read on. In the recent case, Verein für Konsumenteninformation v Amazon EU Sàrl (28 July 2016), brought by Austrian consumer protection body Verein für Konsumenteninformation (VKI), the Court of Justice of the European Union (ECJ) held…
July 7, 2016, saw the UK’s Financial Conduct Authority (FCA) publish fresh guidance in order to clarify the requirements which apply to the financial services firms it regulates when outsourcing to the cloud. When the FCA talks about the cloud, it is referring to the full range of cloud solutions…
We all know that “cloud computing” is one of the most tired and overused phrases in the technology industry, and it has been for years. Everyone has gone “to the cloud” now, right? Not so fast. When it comes to cloud-based enterprise email, the market has lagged somewhat behind. A…