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On behalf of the entire Financial Services Practice Group, welcome to the May issue of WeiserMazars’ Financial Trends. In this issue, we cover a number of important developments in the sector, including the recent call by the NYDFS for information on insurers’ cyber security measures, which comes as a follow up to their previous request for similar information on cyber security at banks, issued in December.

Also top of mind in this time of significant change to the healthcare sector are the effects of HIPAA compliance on healthcare lenders. We hope that you will find these articles interesting and of value. We are happy to answer any questions you may have on these or other topics. 

- James Kinney, Partner, Financial Services Practice Leader
Featured Articles
NYDFS Calls for Insurers' Cyber Security Information by April 27
On March 26, the Superintendent of the New York Department of Financial Services (NYDFS) issued a letter detailing requirements for insurers to provide information related to their cybersecurity programs and practices. Due April 27, the short response time has created a sense of urgency among insurers. Click here to read full article.
 
Events
For more information click here or contact the featured representative below.

Broker Dealer Conference
New York, NY | 
May 7, 2015
Charles Pagano
Mark Aaron
Charles Abraham

New Jersey Banker's Conference
Nashville, TN | 
May 27 - 31, 2015
Bridget Day
 
Federal Bar Annual Insurance Tax Seminar
Washington, DC | May 28 - 29, 2015

Tom Barber
Steve Green
HIPAA Compliance as it Relates to Healthcare Lenders and Other Examiners
by Gary Litvak
As a result of several recently completed examinations of healthcare practices and healthcare related entities, it has become apparent that there is a major lack of understanding of borrowers' and examiners' responsibility as it relates to the Health Insurance Portability and Accountability Act's (HIPAA) privacy rules and compliance. Click here to read full article.
2015 IIF North America Summit
New York, NY | June 4 - 5, 2015

Susan Grbic
Bridget Day

IASA Annual Meeting
Las Vegas, NV |
June 7 - 10, 2015
Jeff Palmer
Michael Flagiello
Marty Garland

Florida Bankers Association Conference
Boca Raton, FL | June 8 - 10, 2015

John Palmer

Bank Director's Annual Bank Audit & Risk Committees Conference
Chicago, IL | June 11 - 12, 2015

John White (Speaker)
Articles 
 
Businesses need to get creative with lenders
Featured in Long Island Business News
Companies facing difficulty borrowing may find the answer in the form of asset-based loans that typically let them borrow against money they're owed or a product ready to go. Gary Litvak comments. Click here to read full article.
 
Regulators give biz a break with goodwill accounting
Featured in Long Island Business News
Accounting related to acquisitions is getting easier - and often cheaper - thanks to new rules that no longer require firms to make annual calculations related to the value of the acquired business. Featuring Charles Abraham. Click here to read full article.

First FATCA reporting deadline passes, but issues remain
Featured in Portfolio Adviser
The first reporting deadline for the US Foreign Account Tax Compliance Act (FATCA) has now passed, although "obstacles" still stand in the way of full compliance. Susan Grbic comments. Click here to read full article.
 
First FATCA reporting deadline passes, but issues remain
Featured in International Advisor

The first reporting deadline for the US Foreign Account Tax Compliance Act (FATCA) has now passed, although "obstacles" still stand in the way of full compliance. Susan Grbic comments. Click here to read full article.
IIB Tax Conference
New York, NY | June 16, 2015

Susan Grbic (Speaker)
Ilene Mak
 
Best Advice
This busy season, WeiserMazars asked for the best advice our team members had ever received. The #BestAdvice Campaign turned up a lot of great wisdom including this gem from Jim Kinney!

“If you promise to get back to them tomorrow, get back to them today!”
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