Third Party Service Providers

Individuals who serve as a fiduciaries to their company’s retirement plan often feel they may not be sufficiently informed or qualified to make prudent decisions for the plan. They might ask themselves: “How do I know which are prudent investments?” or “What amount of plan fees are ‘reasonable’”? Now, the DOL is requiring plan fiduciaries

In April, we posted about the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) issuing cybersecurity guidance for employee retirement plans. That is, April 14, 2021. Shortly thereafter, the DOL updated its audit inquiries to include probing questions for plan fiduciaries about their compliance with “hot off the press” agency guidelines.

So, what

Globalization, compliance, and the growth in outsourcing have created a myriad of cross-border data transfer scenarios. These scenarios include marketing to and servicing customers, assessing global compliance with diversity and including goals, and outsourcing back office business functions. However, the emergence of far reaching data privacy regulation, such as the EU General Data Protection Regulation

By now, plan fiduciaries and their service providers likely have heard about the DOL’s cybersecurity guidance. The Department of Labor’s stepping into cybersecurity in this way – a posting of best practices on the agency’s website – has left plan fiduciaries with some questions. Here are a few:

  • “When is this effective?”
  • “Does this

On May 12, 2021, the Biden Administration issued an Executive Order on “Improving the Nation’s Cybersecurity” (EO). The EO was in the works prior to the Colonial Pipeline cyberattack, reportedly a ransomware incident that snarled the flow of gas on the east coast for days. Ransomware attacks are nothing new, but they are increasing in

Today, the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) issued much anticipated cybersecurity guidance for employee retirement plans. This comes more than four and a half years after the ERISA Advisory Council, a 15-member body appointed by the Secretary of Labor to provide guidance on employee benefit plans, shared with the federal

On Tuesday, March 2nd, Virginia Governor Ralph Northam signed into law the Consumer Data Protection Act (CDPA), officially joining California as the second state with a comprehensive consumer privacy law, intended to enhance privacy rights and consumer protection for state residents.  We provide an in-depth analysis of the CDPA here, along with

On January 13, House Delegate Sara Love Introduced the “Biometric Identifiers and Biometric Information Privacy Act” (the “Act”) substantially modeled after the Biometric Information Privacy Act in Illinois, 740 ILCS 14 et seq. (the “BIPA”). Enacted in 2008, the Illinois BIPA only recently triggered an avalanche of class actions in Illinois, spurring other

Virginia may be the first state to follow California’s lead on consumer privacy legislation, but it certainly will not be the last. The International Association of Privacy Professionals (IAPP) observed, “State-Level momentum for comprehensive privacy bills is at an all-time high.” The IAPP maintains a map of state consumer privacy legislative activity, with in-depth analysis

When California voters approved Proposition 24, the California Privacy Rights Act (CPRA), on November 3, 2020, the result was to substantially amend the California Consumer Privacy Act (CCPA) which became effective only 10 months earlier. We outlined the basic rules for determining when the CCPA applies, and summarize here the changes made by