Contradictory Technical And Cost Evaluations Don't Add Up
Client Alert | less than 1 min read | 04.12.06
In Information Ventures, Inc. (Mar. 1, 2006, http://www.gao.gov/decisions/bidpro/2972762.pdf), GAO sustained the protest in part because the agency failed to reconcile the technical evaluation with the cost realism analysis. In this procurement, the agency supported the high technical scores awarded to the two offerors by finding that both offerors' technical proposals “contained more than adequate staff to accomplish tasks,” yet, at the same time, determined in the cost realism analysis that neither offeror had proposed sufficient staffing hours to perform the work.
Insights
Client Alert | 4 min read | 08.06.25
FinCEN Delays Implementation Date and Reopens AML/CFT Rule for Investment Advisers
Historically, SEC-registered investment advisers have not been subject to comprehensive AML regulation under the Bank Secrecy Act (“BSA”) unless they also qualify as a broker-dealer or other BSA-regulated financial institution. Notwithstanding the absence of a formal requirement to date, many SEC-registered investment advisers have voluntarily adopted AML programs in line with industry expectations and investor demands. However, on August 28, 2024, FinCEN issued its Final Rule, establishing anti-money laundering/countering the financing of terrorism (“AML/CFT”) requirements for Covered Advisers similar to those that apply to broker-dealers. The Final Rule, which was scheduled to take effect on January 1, 2026, required Covered Advisers to maintain written AML programs, perform customer due diligence, file Suspicious Activity Reports (“SARs”) and other reports required of BSA-regulated financial institutions, and retain standard AML records.
Client Alert | 4 min read | 08.06.25
Series of Major Data Breaches Targeting the Insurance Industry
Client Alert | 11 min read | 08.06.25
Client Alert | 3 min read | 08.06.25
