Compliance with Data Privacy Laws Representation and Warranty (Underwriting Agreement)
Summary
This data privacy representation and warranty clause may be included in an underwriting agreement for a registered offering of securities by an issuer in the healthcare industry. This clause includes practical guidance and drafting notes. The United States, members of the European Union, and other countries have adopted various data privacy and security laws and regulations that apply to companies handling protected medical and health-related information. In the United States, the Health Insurance Portability and Accountability Act of 1996 (HIPAA) (104 P.L. 191) and various rules enacted thereunder create a privacy and security framework for protected health information. Similarly, the General Data Protection Regulation (GDPR), published by the European Union in 2016, created a sweeping data privacy framework that applies to many forms of personal information, including medical and health-related information. Other countries, such as Australia, Canada, New Zealand, and the United ...