In that first conversation with Jim Hassett in January, we discussed Squire Sanders’ position in the vanguard of this emerging area and how to maximize the benefits to our clients. In future conversations, we will discuss the most efficient ways to make project management information accessible to other members of our firm so that each lawyer can determine the best way to apply these principles in his or her own practice. We hope that the program and the certification will help our firm and our clients succeed in this rapidly changing world. … [Read more...] about Why We Decided to Become Certified Legal Project Managers
Certified risk and compliance management professional crcmp
29 “Service Providers,” include any person who “provides a material service to a covered person in connection with the offering or provision by such covered person of a consumer financial product or service, including a person that -- (i) participates in designing, operating, or maintaining the consumer financial product or service; or (ii) processes transactionsrelating to the consumer financial product or service (other than unknowingly or incidentally transmitting or processing financial data in a manner that such data is undifferentiated from other types of data of the same form as the person transmits or processes).” Sec. 1002(26). Regarding examinations or requiring of reports by service providers, Sec. 1024(e) and 1025(d), state that the Bureau shall coordinate with the appropriate prudential regulator as applicable. Thus, under Title X, service providers are to be subject to the authority of the Bureau, “to the same extent as if such service … [Read more...] about Are Compliance Management Systems the New Battlefront for the CFPB and Prudential Regulators?
But the law may not mandate notification in all cases. New Jersey law does not require disclosure to a customer "if the business or public entity establishes that misuse of the information is not reasonably possible. N.J.S.A. 56:8-163(a). Thus, to the extent the unauthorized access is to encrypted data, customer notification may not be required, and even where the data is not encrypted, customer notification may not be required if the firm or business can say misuse of that data is "not reasonably possible." That could well be the case when a stolen laptop computer or smart phone is encrypted, requires a log in code or unique password to access the server or firm database, or when the firm has the ability to remotely disable or "wipe" the data from the stolen device. Best practice would require the Chief Information Officer or an outside IT professional to document the conclusion that misuse is "not reasonably possible," and the New Jersey statute requires that documentation to be … [Read more...] about Loss of Confidential Electronic Data: New Risks for Financial Professionals
Several aspects of the Guidance are particularly useful to the general counsel. For example, the Guidance underscores the important role that the internal auditor plays in the overall compliance effort. It also makes the very important point that the compliance program should be “right sized” for the organization; boards of organizations that have grown rapidly through merger or consolidation must constantly confirm that the compliance program meets the needs of the growing organization. There is a very useful emphasis on the board’s use of expert advice in order to stay abreast of current developments in the area. (This should be balanced, however, with attentiveness to the reasonableness of such reliance in individual circumstances.) In addition, the Guidance’s articulation of roles and relationships offers some clarity, at a time when the distinctions between the roles of the key participants in the compliance program are … [Read more...] about New Health Care Governing Board Compliance Guidance Prompts General Counsel Focus
In contrast, tort claims are substantially less predictable than contract claims. A "tort" is not a breach of a contractual duty, which is assumed voluntarily through an agreement between parties. Rather, a tort is a violation of a duty imposed by law. Tort claims generally arise either from an intentional wrongdoing, such as in the case of a fraud claim, or they arise from an accidental breach of a duty of care, such as a claim for negligence. A fraud claim generally requires a misrepresentation (i.e. a lie) made with the intention and effect of misleading someone into taking some action to that party's detriment. Negligence claims against a professional requires an allegation that the professional has failed to provide the level of expertise of a "reasonable" professional "under the same or similar circumstances." … [Read more...] about Professional Liability for Engineers Under Kentucky Law: Know Your Risks