Hill Wallack LLP Firm News/Blogs Feedhttp://www.hillwallack.com/?t=39&format=xml&directive=0&stylesheet=rss&records=10en-us23 Mar 2017firmwisehttp://blogs.law.harvard.edu/tech/rssHill Wallack LLP Partner Caroline Record to speak at NJSBA 2017 Annual Meeting and Conventionhttp://www.hillwallack.com/?t=40&an=64284&format=xml&p=555517 May 2017Event<p style="text-align: left;"><span style="font-size: medium;"><br /> </span></p> <p style="text-align: center;"><span style="font-size: medium;">New Jersey State Bar Association<br /> 2017 Annual Meeting and Convention<br /> May 17 - 19<br /> Borgata Hotel Casino &amp; Spa, Atlantic City, NJ</span><strong><span style="font-size: medium;"><strong><br /> </strong></span></strong><span style="color: rgb(0, 0, 255);"><span style="font-size: medium;"><a href="http://www.hillwallack.com/caroline-record"><br /> </a></span></span></p> <p><span style="color: rgb(0, 0, 255);"><span style="font-size: medium;"><a href="http://www.hillwallack.com/caroline-record">Caroline Record, Esq.</a></span></span><span style="font-size: medium;"> will be among the panelists for:<br /> </span></p> <h4><span style="font-size: medium;"> </span><span style="font-size: medium;">Community Associations: Opportunities and Insights</span></h4> <p><em><strong><span style="font-size: small;">Real Property Trust and Estate Law Section</span></strong><br /> </em><br /> <span style="font-size: small;">Significant developments in community association law will be the focus of this program. Recurrent Issues, such as the collection of delinquent assessments, the conduct of meetings and association affairs, and mortgage foreclosure and election reform efforts, will be discussed. This panel will evaluate existing laws, such as the Municipal Services Act, and spotlight legislative efforts and court decisions impacting this practice. </span><br /> <em><br /> </em><br /> <em><br /> </em><em><br /> </em></p>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10Hill Wallack LLP Partners Presenting at the 2017 Atlantic Builders Conventionhttp://www.hillwallack.com/?t=40&an=63907&format=xml&p=555504 Apr 2017Event<span style="font-size: large;"><span style="color: rgb(51, 102, 255);">Come visit us in Booth #709 at the Atlantic Builders Convention being held on April 4-5, 2017 at the Atlantic City Convention Center.</span></span><span style="font-size: medium;"><span style="color: rgb(0, 0, 255);"><br /> </span></span><br /> <em>The following seminars offer Continuing Education Credits:<br /> </em><br /> <a href="http://www.hillwallack.com/thomas-f-carroll-iii"><strong><span style="color: rgb(51, 102, 255);">Thomas F. Carroll, III</span></strong></a><strong> will be presenting at this seminar.</strong><br /> <br /> <strong><span style="font-size: medium;">Legal Trends - Land Use Law</span></strong><br /> Wednesday, April 5th<br /> 12:00 - 1:45 p.m.<br /> Room 313<br /> <br /> Legislation, regulations and court decisions relating to the land development review process continue to modify the legal framework within which real estate is developed. During this seminar, a panel of land use attorneys will examine the most recent significant changes and discuss their implication for the future.<br /> <br /> <a href="http://www.hillwallack.com/stephen-m-eisdorfer"><strong><span style="color: rgb(51, 102, 255);">Stephen M. Eisdorfer</span></strong></a><strong> will be presenting at this seminar.</strong><br /> <br /> <strong><span style="font-size: medium;">Affordable Housing Overview</span></strong><br /> Thursday, April 6th<br /> 2:00 - 3:45 p.m.<br /> Room 310<br /> <br /> <br /> <br /> <img src="http://www.hillwallack.com/D444E6/assets/images/master sponsor.jpg" alt="" width="181" vspace="0" hspace="0" height="80" border="0" align="absmiddle" /><br /> <br /> Click <a href="http://www.abconvention.com/">here</a> for further information. <br type="_moz" />http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10Hill Wallack LLP Attorneys Selected To The 2017 New Jersey Super Lawyers and Rising Stars Listshttp://www.hillwallack.com/?t=40&an=64398&format=xml&p=531014 Mar 2017News Release<p>Princeton, NJ March 14, 2017 --- Seven partners from the Princeton, N.J. office of Hill Wallack LLP have been selected to the 2017 New Jersey Super Lawyers list. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor.</p> <p>Those selected to the Super Lawyers list this year include <strong>Supti Bhattacharya</strong>,<strong> <span>Thomas F. Carroll, III</span></strong><span>,</span><strong><span> Stephen M. Eisdorfer</span></strong><span>,</span><strong><span> Gerard H. Hanson</span></strong><span>,</span><strong><span> Michael S. Karpoff</span></strong><span>,</span><strong><span> Suzanne M. Marasco</span></strong><span>, and <strong>Ronald L. Perl</strong>. </span></p> <p>In addition, two attorneys from the Princeton, N.J. office have been selected to the 2017 New Jersey Rising Stars list. Each year, no more than 2.5 percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor.</p> <p>Those selected to the Rising Stars list this year include <strong><span>Eric P. Kelner</span></strong><span>, partner, and <strong>Megha R. Thakkar</strong>, counsel. </span></p> <p>Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys.</p> <p>The Super Lawyers lists are published nationwide in <i>Super Lawyers Magazines </i>and in leading city and regional magazines and newspapers across the county. <i>Super Lawyers Magazines </i>also feature editorial profiles of attorneys who embody excellence in the practice of law. For more information about Super Lawyers, go to superlawyers.com.</p> <p><b>About Hill Wallack LLP </b></p> <p>Founded in 1978, Hill Wallack LLP is a leading full service law firm with offices in Princeton and Morristown, New Jersey and Yardley, Pennsylvania. Our regional strength places us in an ideal position in today&rsquo;s market. With nearly 70 lawyers, our mid-market size allows us to provide sophisticated, high-level service to clients in a cost-efficient, responsive manner. Our attorneys represent individual and entities in banking, community associations, creditor rights, employment &amp; labor law, family law, insurance, land use, litigation and real estate. For more information, please visit <a href="http://www.hillwallack.com">www.hillwallack.com</a>.</p>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10HILL WALLACK LLP ACHIEVES ISO 27001 CERTIFICATIONhttp://www.hillwallack.com/?t=40&an=64030&format=xml&p=531007 Mar 2017News Release<i>Certification confirms the firm&rsquo;s commitment to the highest standards of information security</i><b> <br /> </b><i><br /> Princeton, NJ &ndash; </i>Hill Wallack LLP, a leading regional law firm in New Jersey and Pennsylvania, has announced the firm has achieved ISO 27001:2013 Certification, the most widely-adopted information security standard in the world and the highest level of security-related accreditation a business can achieve. The firm achieved this certification for all of its offices and data centers. <p>ISO 27001 is an internationally recognized security standard that specifies the establishment, maintenance, and continuous improvement of an organization&rsquo;s information security management system. These stringent standards exist to ensure that formal security and risk management controls are in place to protect the confidentiality, integrity, and availability of sensitive company, client, and personal information. The rigorous certification process requires annual audits to ensure that the firm is using state of the art practices and procedures to secure its client&rsquo;s sensitive data and to keep pace with the ever changing cybersecurity landscape.</p> <p>By obtaining the ISO 27001 certification, Hill Wallack has confirmed its commitment to provide its clients with global best practices for information security management and ensures that proper policies and procedures are in place to secure valuable client data. Many of the firm&rsquo;s clients are in regulated industries which mandate that they use professional service firms that are capable of securing their confidential data.&nbsp;By achieving this certification, Hill Wallack has joined an elite group of firms that are positioned to satisfy the needs of those clients.</p> <p>&ldquo;Hill Wallack achieved this certification because we saw a direct need to reassure our clients and partners that we are using best practices for information security to protect their highly sensitive data. ISO 27001 certification demonstrates Hill Wallack&rsquo;s commitment to its clients that it is investing in the technology and training necessary to protect them in an evolving world,&rdquo; said Hill Wallack managing partner, Michael Kahme.</p> <p>&ldquo;The security of our clients&rsquo; information is paramount,&rdquo; said Thomas W. Halm, Jr., partner and the firm&rsquo;s Chief Information Security Officer. &ldquo;We know our clients trust us to protect their interests at all times, and to us that means implementing the most rigorous standards for how we secure client information&rdquo;</p> <p>Hill Wallack&rsquo;s ISO certification was achieved after a rigorous three-year process of risk assessment, evaluation and process implementation, which included both an internal and independent audit process.&nbsp;Firms achieving ISO 270001 certification must undergo annual audits to maintain their status.<span>&nbsp;&nbsp; Hill Wallack is one of only a very small number of firms in our area to achieve certification.</span></p> <p>Law firms are the seventh most popular target for cyber criminals seeking to hack into information systems to gain access to confidential client information and data.&nbsp;Therefore, advanced information security management systems are essential for today&rsquo;s firms. Because the firm is ISO 27001 compliant, Hill Wallack&rsquo;s clients can be assured their information is secured using the highest international standards.</p> <p><strong>About Hill Wallack LLP</strong><br /> <br /> Founded in 1978, Hill Wallack LLP is a leading full service law firm with offices in Princeton and Morristown, New Jersey and Yardley, Pennsylvania. Our regional strength places us in an ideal position in today&rsquo;s market. With nearly 70 lawyers, our mid-market size allows us to provide sophisticated, high-level service to clients in a cost-efficient, responsive manner. Our attorneys represent individual and entities in banking, community associations, creditor rights, employment &amp; labor law, family law, insurance, land use, litigation and real estate. For more information, please visit www.hillwallack.com.</p>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10NYDFS Cybersecurity Regulations Force Broad Range of Companies Nationwide to Tighten Their Cybersecurity Standardshttp://www.hillwallack.com/?t=40&an=63931&format=xml&p=530802 Mar 2017Article<p style="text-align: left;"><em>Written by: <a href="http://www.hillwallack.com/thomas-w-halm"><span style="color: rgb(51, 102, 255);">Thomas W. Halm, Jr.</span></a> and <a href="http://www.hillwallack.com/brett-m-buterick"><span style="color: rgb(51, 102, 255);">Brett M. Buterick</span></a></em><br /> <br /> Effective March 1, 2017, the New York Department of Financial Services (&ldquo;NYDFS&rdquo;) will implement 23 NYCRR &sect; 500, which requires &ldquo;Covered Entities&rdquo;<a href="#_edn1" name="_ednref1" title=""><span><span><span>[i]</span></span></span></a> regulated by the NYDFS, and their &ldquo;Third Party Service Providers&rdquo;<a href="#_edn2" name="_ednref2" title=""><span><span><span>[ii]</span></span></span></a>, to implement strict information security practices and procedures in order to ensure the security of Nonpublic Information<a href="#_edn3" name="_ednref3" title=""><span><span><span>[iii]</span></span></span></a>. These new regulations broadly define who is included in their purview to encompass not only traditional financial services companies such as banks, insurance companies, but also entities like any business incorporated under the laws of the State of New York, foreign bank branches, charitable foundations, holding companies, mortgage bankers, mortgage and insurance brokers, and mortgage loan servicers&mdash;even those domiciled outside of the State of New York if they engage in financial or insurance services in the state. &nbsp;A Covered Entity is only excluded from the effect of these regulation if it has less than ten employees; annual revenues less than $5,000,000 for each of the past three years; or less than $10,000,000 in total year-end assets as calculated with GAAP, to comply with strict regulations safeguarding nonpublic information maintained or accessible to the entity. &nbsp;23 NYCRR &sect; 500.19.</p> <p>These regulations also require Covered Entities to &ldquo;ensure the security of Information Systems<a href="#_edn4" name="_ednref4" title=""><span><span><span>[iv]</span></span></span></a> and Nonpublic Information that are accessible to, or held by, Third Party Service Providers such as their attorneys, accountants, IT vendors, and any other professional who provides services to Covered Entities. &nbsp;23 NYCRR &sect; 500.11(a). &nbsp;As a result of these regulations, Covered Entities are tasked with the job of creating written cybersecurity policies and procedures for its Third Party Service Providers which establish minimum standards for such vendors to follow and processes to periodically audit and perform risk assessments of such vendors&rsquo; security.</p> <p>Under the new regulation, every &ldquo;Covered Entity&rdquo; will be required to assess its specific risk profile, and design, implement, and maintain a risk program to protect the confidentiality and integrity of its information systems.&nbsp;Specifically, under the regulations, Covered Entities will be required to comply with all of the provisions of 23 NYCRR &sect; 500 as outlined below.</p> <p><b>Maintain a Cybersecurity Program</b></p> <p>The program must be designed to protect the confidentiality, integrity, and availability of the Covered Entity&rsquo;s Information Systems by identifying risks, providing for a defensive data infrastructure, detecting cybersecurity events, responding to and recovering from same, and fulfilling all reporting requirements.&nbsp;23 NYCRR &sect; 500.02. &nbsp;The Cybersecurity Program must be made readily available to the Superintendent of Financial Services.&nbsp;<u>Id.</u></p> <p><b>Implement Written Cybersecurity Policies</b></p> <p>The regulation requires covered entities, to implement a written cybersecurity policy.&nbsp;The written policy should address the following fourteen points (as applicable to the entity): (1) information security, (2) data governance and classification, (3) asset inventory and device management, (4) access controls and identity management, (5) business continuity, (6) systems operations and availability concerns, (7) systems and network security, (8) systems network monitoring, (9) systems and application development, (10) physical security and environmental controls, (11) customer data privacy, (12) vendor management, (13) risk assessment, and (14) incident response.&nbsp;&nbsp;23 NYCRR &sect; 500.03.</p> <p>In addition, the written policy should outline procedures for the entity during a cybersecurity event, and provide for several miscellaneous circumstances detailed below.</p> <p><b>- </b><i>Breach and Notification</i></p> <p>Covered Entities are to establish a written response plan for any cybersecurity event addressing: the internal process for responding to a cybersecurity event, the goals of the incident response plan, definitions of roles and responsibilities of authority, external and internal communications, identification of requirements for the remediation of identified weaknesses, and evaluation of the response plan following a cybersecurity event.&nbsp;23 NYCRR &sect;&sect; 500.10, 500.16.</p> <p>In addition, Covered Entities must provide notice of a material cybersecurity event to the Superintendent of Financial Services within 72 hours of event determination.&nbsp;23 NYCRR &sect;&sect; 500.10, 500.17.</p> <p>- <i>Miscellaneous</i></p> <p>Covered Entities must also address in their written policy the use of secure development practices for in-house developed applications they use, ensure security accessible to Third Party Service Providers, and provide policies and procedures for the disposal of data.&nbsp;23 NYCRR &sect;&sect; 500.08, 500.11, 500.13.</p> <p><b>Appoint a Chief Information Security Officer</b></p> <p>The regulation requires the entity appoint a Chief Information Security Officer (&ldquo;CISO&rdquo;) responsible for overseeing and implementing the cybersecurity program and enforcing the written policy.&nbsp;23 NYCRR &sect; 500.04.&nbsp;The CISO of each covered entity shall report in writing on the cybersecurity program and material risks of the covered entity at least annually to its board of directors or equivalent governing body. &nbsp;<u>Id.</u>&nbsp;The regulation further provides that this requirement may be met by outsourcing the CISO to a Third Party Service Provider or using an Affiliate so long as the Covered Entity follows certain provisions of the regulation.&nbsp;<u>Id.</u></p> <p><b>Penetration Testing and Vulnerability Assessments</b></p> <p>The regulations require that the Covered Entity&rsquo;s cybersecurity program shall be continuously monitored and penetration testing and vulnerability assessments must be performed routinely.&nbsp;23 NYCRR &sect; 500.05.&nbsp;The regulation requires an annual penetration test and a bi-annual vulnerability assessment.&nbsp;<u>Id.</u><span>&nbsp;&nbsp; </span></p> <p>The regulation also provides for ambiguous periodic risk assessments &ldquo;sufficient to inform the design of the cybersecurity program&nbsp;[and] . . . updated as reasonably necessary to address changes to the Covered Entity&rsquo;s Information Systems, Nonpublic Information or business operations.&rdquo;&nbsp;23 NYCRR &sect; 500.09.&nbsp;</p> <p><b>Maintain a System to Produce Auditable Recordation of Data</b></p> <p>The regulation requires covered entities to include audit trails to respond to cybersecurity events and maintain systems such that &ldquo;material financial transactions sufficient to support normal operations&rdquo; may be readily reconstructed.&nbsp;23 NYCRR &sect; 500.06.</p> <p><b>Provide Cybersecurity Training </b></p> <p>Covered entities are required to provide regular cybersecurity awareness training for all personnel, as well as continual updates and training for cybersecurity personnel.&nbsp;23 NYCRR &sect;&sect; 500.10, 500.14.</p> <p><b>Data Protection and Authentication</b></p> <p>The regulation requires each covered entity utilize data encryption and/or similar controls to protect nonpublic information held or transmitted by the entity.&nbsp;23 NYCRR &sect; 500.14.&nbsp;</p> <p>Covered entities are also required to utilize multi-factor authentication, or similar effective controls to protect against unauthorized access to nonpublic information.&nbsp;23 NYCRR &sect; 500.12.</p> <p><b>Annual Certification</b></p> <p>The regulation requires covered entities submit a written compliance statement to the Superintendent of Financial Services by February 15<sup>th</sup> of each year.&nbsp;<u>Id.</u>&nbsp;All records supporting the certification must be maintained for a period of five years for examination by the NYDFS.&nbsp;<u>Id.</u>&nbsp;</p> <p><b><u>Important Dates</u></b></p> <p><b>March 1, 2017</b> &ndash;23 NYCRR &sect; 500 is in effect;</p> <p><b>August 28, 2017</b> &ndash; &nbsp;covered entity&rsquo;s cybersecurity program, cybersecurity policy, and response plan must all be in place; breach notification obligation effective; CISO must be appointed;</p> <p><b>February 15, 2018</b> &ndash; first annual certification to the Superintendent of Financial Services due;</p> <p><b>March 1, 2018</b> &ndash; penetration and vulnerability testing obligation begins; periodic assessments policy must be in place; cybersecurity awareness training must be provided to employees;</p> <p><b>September 1, 2018</b> &ndash; covered entity&rsquo;s audit trail policy, applications security policy, data retention policy, and authorized user monitoring policy must all be in place; encryption or alternative must be adopted; and</p> <p><b>March 1, 2019</b> &ndash; third party service provider security policy in place.</p> <p><b><u>Takeaways </u></b></p> <p>23 NYCRR &sect; 500 is certain to have an impact on all financial service firms, including banks and insurance companies, regulated by the State of New York, and their outsourced professionals, regardless of whether they have a physical presence in the state. &nbsp;Data security measures on the level required by 23 NYCRR &sect; 500 are probably not in place in many smaller organizations at present, and implementation will be expansive and costly, but not unwarranted.&nbsp;To survive in a world of constant information security threats, companies doing business in or with the financial services sector must develop practices and procedures for the monitoring and protection of data.&nbsp;</p> <p>While the requirements are extensive, 23 NYCRR &sect; 500 does provide firms a significant transitional period for full compliance.&nbsp;Further, the regulation permits compliance assistance from an affiliate or third party service provider of a covered entity for nearly all provisions.&nbsp;Accordingly, at least a portion of the burden of the regulation may be shouldered by data security specialists and counsel.</p> <p>It is important to recognize that, while these regulations are among the most detailed to be adopted by a state, it is likely that other states will adopt similar regulations in the near future. &nbsp;For those institutions without expansive cybersecurity practices and procedures currently in place and soon to be subject to 23 NYCRR &sect; 500, it may make economic and practical sense to immediately start working on adopting stringent information security policies above and beyond those required currently required by 23 NYCRR &sect; 500 to proactively address this ever changing marketplace.&nbsp;</p> <p>Hill Wallack LLP is at the cutting edge of information security practices and procedures for all of our clients.&nbsp;The firm meets or exceeds the requirements for Third Party Service Providers as set forth under 23 NYCRR &sect; 500.&nbsp;Hill Wallack LLP has spent the last two and a half years developing a comprehensive information security management system, which culminated in the firm being certified as ISO 27001:13 compliant &ndash; an international standard which indicates that the firm is using best practices for information security as verified by outside auditors specializing in data security.&nbsp;Only 5% of law firms nationwide have received ISO27001:13 Certification. &nbsp;This certification and the firm&rsquo;s continuing commitment to identifying risk and managing same evidences the firm&rsquo;s commitment to its clients that we take cybersecurity as seriously as they do. &nbsp;Please contact us to discuss our ISO 27001:13 Certification and how we can assist you with your information security concerns.</p> <div><br clear="all" /> <hr align="left" width="33%" size="1" /> <div id="edn1"> <p><a href="#_ednref1" name="_edn1" title=""><span><span><span>[i]</span></span></span></a> &ldquo;Covered Entity&rdquo; is defined to include every business &ldquo;operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization&rdquo; under New York&rsquo;s banking, insurance, or financial services laws. &nbsp;23 NYCRR &sect; 500.01(c).</p> </div> <div id="edn2"> <p><a href="#_ednref2" name="_edn2" title=""><span><span><span>[ii]</span></span></span></a> &ldquo;Third Party Service Provider&rdquo; is defined to include any individual or non-governmental entity, including but not limited to a partnership, corporation, branch, nongovernmental agency or association who is &ldquo;(i) not an Affiliate of the Covered Entity; (ii) provides services to the Covered Entity, and (iii) maintains, processes, or otherwise is permitted access to Nonpublic Information through its provision of services to the Covered Entity.&rdquo; &nbsp;23 NYCRR &sect; 500.01(n).</p> </div> <div id="edn3"> <p><a href="#_ednref3" name="_edn3" title=""><span><span><span>[iii]</span></span></span></a> &ldquo;Nonpublic Information&rdquo; is defined to include &ldquo;all electronic information that is not Publicly Available Information and is: (1) Business related information of a Covered Entity the tampering with which, or unauthorized disclosure, access, or use of which, would cause a material adverse impact to the business, operations or security of the Covered Entity; (2) any information concerning an individual which because of name, number, personal mark, or other identifier can be used to identify such individual, in combination with any one or more of the following data elements: (i) social security number; (ii) driver&rsquo;s license number or non-driver identification card number; (iii) account number, credit or debit card number; (iv) any security code, access code or password that would permit access to an individual&rsquo;s financial account; or (v) biometric records; (3) any information or data, except age or gender, in any form or medium created by or derived from a health care provider or an individual that relates to (i) the past, present, or future physical, mental, or behavioral health or condition of any individual or a member of the individual&rsquo;s family; (ii) the provision of health care to any individual or a member of the individual&rsquo;s family; or (iii) payment for the provision of health care to any individual.&rdquo; &nbsp;23 NYCRR &sect; 500.01(g).</p> </div> <div id="edn4"> <p><a href="#_ednref4" name="_edn4" title=""><span><span><span>[iv]</span></span></span></a> &ldquo;Information System&rdquo; is defined to mean &ldquo;a discrete set of electronic information resources organized for the collection, processing, maintenance, use, sharing, dissemination or disposition of electronic information, as well as any specialized systems such as industrial/process controls systems, telephone switching and private branch exchange systems, and environmental control systems. &nbsp;23 NYCRR &sect; 500.01(e).</p> </div> </div>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10TIME TO TIGHTEN YOUR CYBERSECURITY BELTShttp://www.hillwallack.com/?t=40&an=63973&format=xml&p=530902 Mar 2017Client Alert<p style="text-align: left;"><em>Written by: <a href="http://www.hillwallack.com/thomas-w-halm">Thomas W. Halm, Jr.</a> and <a href="http://www.hillwallack.com/brett-m-buterick">Brett M. Buterick</a></em></p> <p>Are you currently doing business in New York or are you providing services to a company that does business in New York? If the answer to either question is yes, you need to be aware of new cybersecurity regulations created by the New York Department of Financial Services (&ldquo;NYDFS&rdquo;) which went into effect on March 1, 2017. These regulations are some of the most restrictive to be established to date and even effect companies who are domiciled outside of the State of New York.</p> <p>Traditional financial service companies, such as banks and insurance companies, as well as entities that are regulated by the NYDFS such as business entities incorporated in New York, charitable foundations, holding companies, mortgage bankers, mortgage and insurance brokers, and mortgage loan services, are now required to implement strict information security practices and procedures in order to secure nonpublic information. As a result, these &ldquo;Covered Entities&rdquo; have to design and maintain a cybersecurity program, including implementing a written information security policy, which protects the confidentiality, integrity, and availability of its nonpublic data &ndash; including but not limited to items such as social security numbers, driver&rsquo;s license numbers, security codes, passwords, health information, and for the first time, business related data which could adversely impact the business, its operations or security. The regulations further require that Covered Entities retain a Chief Information Security Officer and that an auditable recordation of data and compliance with information security policies be established.</p> <p>Additionally, these new regulations also require that Covered Entities must ensure that their Third Party Service Providers, including lawyers, accountants, IT vendors, as well as any other party who might have access to information which could damage a business entity, are able to adequately secure the confidentiality, integrity and availability of all nonpublic information to which they have access. This requires Covered Entities to establish minimum standards for vendor compliance and to periodically conduct audits and risk assessments of their vendor&rsquo;s security practices.</p> <p>If you have questions about these new regulations and their effect on your business, please click on the <a href="http://www.hillwallack.com/?t=40&amp;an=63931&amp;format=xml&amp;p=5308">attached link</a> or feel free to contact us to see how we can assist you with your information security concerns.</p> <p>Hill Wallack LLP is at the forefront of information security and data protection. After an extensive two and a half year process, the firm has achieved ISO 27001:2013 Certification, a feat that puts it in an elite class of law firms who are certified and audited under international standards for data security and risk protection. The firm understands the importance of information security and has made a substantial commitment to its clients to take cybersecurity security seriously. If you are interested in Hill Wallack&rsquo;s ISO 27001:2013 Certification and what it means for you or your business, please click on the <a href="http://www.hillwallack.com/?p=11599">attached link.</a></p>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10HW Attorneys present at the First Annual Bucks County Business Law Institutehttp://www.hillwallack.com/?t=40&an=63613&format=xml&p=555502 Mar 2017Event<p style="text-align: center;"><em><span style="font-size: medium;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></em></p> <table width="632" cellspacing="1" cellpadding="1" border="0"> <tbody> <tr> <td><img src="http://www.hillwallack.com/D444E6/assets/images/Random/image005.jpg" alt="" width="100" vspace="0" hspace="0" height="100" border="0" align="absmiddle" /></td> <td style="text-align: center;"><em><strong><span style="font-size: medium;">The Bucks County Continuing Legal Education Committee, Together with the Business Law Section of the Bucks County Bar Association, <br /> Proudly Presents...</span></strong></em></td> <td style="text-align: center;"><img src="http://www.hillwallack.com/D444E6/assets/images/Random/image006.jpg" alt="" width="97" vspace="0" hspace="0" height="97" border="0" align="absmiddle" /></td> </tr> </tbody> </table> <p style="text-align: left;"><em><span style="font-size: medium;"><br /> </span></em></p> <p style="text-align: center;"><span style="font-size: large;"><span style="color: rgb(0, 51, 102);"><strong>FIRST ANNUAL BUCKS COUNTY BUSINESS LAW INSTITUTE</strong></span></span><br /> <em>Course planners: Jeffrey G. DiAmico, Esq., Hill Wallack LLP and H. Jeffrey Brahin, Esq., Brahin Law Offices</em></p> <p style="text-align: center;"><span style="font-size: medium;"><br /> <strong>Thursday, March 2, 2017<br /> 8:30 a.m. - 4:30 p.m. </strong><br /> <span style="font-size: smaller;"><em>(Reception to follow. Hosted by Hill Wallack LLP)<br /> </em></span><br /> Bucks County Bar Association<br /> 135 E State Street<br /> Doylestown, PA 18901</span></p> <br /> <br /> <span style="font-size: medium;">John J. Simkanich will present on the topic of <strong>&quot;Trade Secret Protection Litigation&quot; </strong></span><br /> <br /> <img src="http://www.hillwallack.com/D444E6/assets/images/Attorneys/John_Simkanich_10172016.jpg" alt="" width="146" vspace="0" hspace="0" height="219" border="0" align="absmiddle" /><br /> <a href="http://www.hillwallack.com/john-j-simkanich"><span style="color: rgb(0, 51, 102);">John J. Simkanich</span></a> is of counsel in the Yardley, Pa. office of Hill Wallack LLP where he is the attorney in charge of the firm's Intellectual Property practice group.<br /> <br /> <img src="http://www.hillwallack.com/D444E6/assets/images/Attorneys/Jeffrey_DiAmico_06122013.jpg" alt="" width="148" vspace="0" hspace="0" height="222" border="0" align="absmiddle" /><br /> <a href="http://www.hillwallack.com/jeffrey-g-diamico"><span style="color: rgb(0, 51, 102);">Jeffrey G. DiAmico</span></a> is a partner in the Yardley, Pa. office of Hill Wallack LLP where he is a member of the firm&rsquo;s Business &amp; Commercial, Real Estate, Community Association Law and Trusts &amp; Estates practice groups.<br /> <br /> <br /> For the full program agenda, click <a href="http://wiseadmin.net/assets/files/Documents/AGENDA.pdf"><span style="color: rgb(0, 51, 102);">here</span></a>.<br /> <br /> <br />http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10Hill Wallack LLP Partner Thomas F. Carroll, III to speak at 2017 New Jersey Planning Conferencehttp://www.hillwallack.com/?t=40&an=62643&format=xml&p=555526 Jan 2017EventThe 2017 New Jersey Planning Conference will be held on Thursday, January 26 and Friday, January 27 at the Hyatt Regency in New Brunswick. Hill Wallack LLP will be a corporate sponsor of this event.<br /> <br /> Partner <a href="http://www.hillwallack.com/thomas-f-carroll-iii"><span style="color: rgb(0, 0, 255);">Thomas F. Carroll, III</span></a> will be a panelist at the session entitled:<br /> <br /> <strong>Mount Laurel: A Status Update</strong><br /> <br /> Where are we now? The State Supreme Court's direction that we should have it all resolved in 90 days has turned into something else - a trial that moves sequentially from vicinage to vicinage. Many municipalities have entered into settlements, we are in the midst of a trial in Mercer County, and the Supreme Court issued its recent ruling that towns are responsible for meeting most of their so-called gap period obligations. Hear from the State's leading advocates on where things stand, where they are headed, the emerging issues in assessment and allocation of need and, now that we have numerous settlements, the road to compliance. <br /> <br /> For further information on the 2017 New Jersey Planning Conference please click <a href="http://www.conference-njplanning.org/"><span style="color: rgb(0, 0, 255);">here</span></a><span style="color: rgb(0, 0, 255);">.</span>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10Thomas F. Carroll, III Quoted in the New Jersey Law Journal on Affordable Housinghttp://www.hillwallack.com/?t=40&an=63268&format=xml&p=552326 Jan 2017Media MentionClick <a href="http://www.njlawjournal.com/home/id=1202777794803/25"><span style="color: rgb(0, 0, 255);">here</span></a> to read the full article.http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10SUPREME COURT RELEASES OPINION ON “GAP YEAR” FAIR SHARE ISSUES: WHAT HAPPENS NOW?http://www.hillwallack.com/?t=40&an=62822&format=xml&p=530925 Jan 2017Client Alert<p><em>Written by:<span style="color: rgb(0, 0, 0);"> Thomas F. Carroll, III</span></em></p> <p>On January 18, 2017, the New Jersey Supreme Court released its opinion in the &ldquo;gap year&rdquo; appeal. The author argued the Supreme Court appeal on behalf of the New Jersey Builders Association.</p> <p>The new opinion resolves the question of whether fair share need numbers must be calculated for the gap years.&nbsp;The gap years, the years 1999-2015, are the years in which the Council on Affordable Housing (COAH) failed to adopt lawful regulations and fair share numbers.&nbsp;The Supreme Court&rsquo;s opinion goes a long way toward eliminating uncertainty as to municipalities&rsquo; fair share obligations under the <i>Mount Laurel</i> doctrine.</p> <p><b>THE SUPREME COURT&rsquo;S RULINGS</b></p> <p>The opinion holds that fair share need numbers must be calculated for the gap years.&nbsp;Thus, municipalities will face higher fair share obligations than they were anticipating, and they must adopt fair share plans accordingly, rezoning more properties for affordable housing.</p> <p>Municipalities had argued that the gap year need should simply be ignored.&nbsp;The Court rejected that position, confirming that the need for affordable housing accumulated year-by-year during the gap years.&nbsp;The Court then addressed the question of how the gap year need should be calculated.&nbsp;The opinion directs that trial courts calculate gap year need as an expanded version of &ldquo;present need,&rdquo; as opposed to including gap year need within the category of &ldquo;prospective need.&rdquo;&nbsp;Gap year need numbers when calculated as prospective need are slightly higher than gap year need numbers when calculated as expanded present need, but the latter are still substantial.&nbsp;Further, gap year need will be added to the other components of fair share obligations that municipalities must meet, including &ldquo;prior round&rdquo; need (need numbers calculated by COAH in the past), and prospective need for the period 2015-2025.</p> <p>Experts for the Fair Share Housing Center and the New Jersey Builders Association have already done reports calculating gap year need as an expanded version of present need.&nbsp;It is anticipated that revised reports addressing gap year need in that fashion will now be filed, with the trial courts to hear testimony on the opinions and fair share numbers provided in those reports.</p> <p><b>THE OPINION&rsquo;S EFFECT ON PENDING CASES</b></p> <p>Trial courts throughout the State are now guided by the Supreme Court&rsquo;s opinion.&nbsp;There is an ongoing fair share methodology trial involving Mercer County <i>Mount Laurel</i> cases, and that is likely to be the first case in which the Supreme Court&rsquo;s opinion is applied.</p> <p>That trial, being conducted by Judge Mary Jacobson in the Mercer County <i>Mount Laurel</i> cases, began on January 10, 2017, and trial dates are currently scheduled through early March.&nbsp;Because the gap year issue was before the Supreme Court when the trial commenced, Judge Jacobson has thus far limited the testimony in the trial to fair share numbers for the period 2015-2025.&nbsp;</p> <div style="page-break-after: always;"><span style="DISPLAY:none">&nbsp;</span></div> <p>Now that the Supreme Court has decided that gap year fair share numbers must be added, Judge Jacobson will be directing the parties shortly as to how the gap year need issues will be addressed at trial.&nbsp;</p> <p><b>SETTLEMENT ISSUES</b></p> <p>Many <i>Mount Laurel </i>declaratory judgment (DJ) cases throughout the State have already settled, with municipalities having received &ldquo;settlement discounts&rdquo; toward their fair share obligations.&nbsp;Some of those settlements have been concluded, with municipalities having received final judgments declaring their compliance with their <i>Mount Laurel</i> obligations.&nbsp;It is doubtful that the gap year opinion will have any effect on already-concluded settlements, but that remains to be seen.</p> <p>Other settlements are only proposed at this stage.&nbsp;To be accepted by the trial courts, fair share plans proposed through settlements must be publicly noticed and then undergo a &ldquo;fairness hearing&rdquo; in court, with the trial court judges ruling upon whether the settlements should be accepted.&nbsp;Some proposed settlements are being challenged by builders who contend that the settlements are deficient, and that municipalities proposing the settlements have wrongfully failed to propose a rezoning of the objecting builders&rsquo; sites.&nbsp;The Supreme Court&rsquo;s gap year opinion should boost the prospects of builders in that category.</p> <p>Even when builders do not have a current interest in providing affordable housing in given municipalities, proposed settlements should still be reviewed in towns in which builders have an interest in properties.&nbsp;Certain settlements are proposing terms that are unfavorable to property owners generally, such as &ldquo;growth share&rdquo; type ordinances that impose affordable housing obligations on all properties without providing any density bonuses or other compensatory benefits.&nbsp;Such terms may be unlawful.&nbsp;Public notices of proposed settlements must be carefully reviewed, and vigilance is required to guard against the application of such ordinances to properties of interest.</p> <p><b>CONCLUSION</b></p> <p>The Supreme Court&rsquo;s gap year opinion provides good news to builders and other affordable housing advocates.&nbsp;It removes a significant element of uncertainty that has plagued the process for well over a year.&nbsp;The trial courts must still manage the <i>Mount Laurel</i> cases to conclusion, but the gap year opinion will no doubt bring about more settlements and speedier resolution of the cases involving towns that choose not to settle.</p> <p><i>About the Author: The author, partner-in-charge of the Land Use Division of Hill Wallack LLP, and Land Use Counsel to the New Jersey Builders Association (NJBA), argued the Supreme Court gap year appeal on behalf of the NJBA.&nbsp;Hill Wallack LLP, based in Princeton, also served as counsel to the NJBA when playing a lead role in the COAH regulation litigation, and has also represented the NJBA and individual builders in many of the Mount Laurel actions discussed in this article.&nbsp;Hill Wallack LLP keeps records on the filings and status of all New Jersey towns.&nbsp;Please contact the author should you have questions about the status of any particular towns, or any other questions.</i></p>http://www.hillwallack.com?t=39&format=xml&directive=0&stylesheet=rss&records=10