Regulatory Compliance Flashcards
7 cards from real ALA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Regulatory Compliance flashcards as text
Under the Gramm-Leach-Bliley Act (GLBA), when does a law firm have an obligation to protect customer financial information?
Answer: When providing financial or tax advisory services that qualify the firm as a financial institution under GLBA
GLBA applies to entities considered 'financial institutions,' and law firms providing certain financial advisory or tax services may fall within that definition, triggering data protection obligations.
A law firm's sexual harassment prevention policy should MOST importantly include:
Answer: Clear reporting procedures, a prohibition on retaliation, and a commitment to investigation
An effective harassment policy must include accessible reporting channels, explicit anti-retaliation protections, and a commitment to conduct prompt and impartial investigations.
The Foreign Corrupt Practices Act (FCPA) is most relevant to a U.S. law firm when:
Answer: The firm assists multinational clients with overseas transactions that could involve improper payments to foreign officials
The FCPA prohibits U.S. persons and companies from bribing foreign government officials, so law firms advising clients on international transactions must understand and counsel on FCPA compliance.
Under the National Labor Relations Act (NLRA), non-supervisory employees at a law firm have the protected right to:
Answer: Engage in concerted activities for mutual aid or protection, including discussing wages
The NLRA protects employees' rights to engage in concerted activities, which includes discussing wages, working conditions, and collectively addressing workplace concerns.
A law firm's cybersecurity compliance framework should align with which widely adopted industry standard for managing information security risk?
Answer: NIST Cybersecurity Framework or ISO 27001
The NIST Cybersecurity Framework and ISO 27001 are the leading frameworks for managing information security risk, and law firms are increasingly expected to align with one or both.
When a law firm terminates an employee and must comply with the Worker Adjustment and Retraining Notification (WARN) Act, the Act generally requires advance notice of how many days for covered mass layoffs?
Answer: 60 days
The WARN Act requires employers with 100 or more employees to provide at least 60 calendar days of advance written notice before covered plant closings or mass layoffs.
Which compliance practice helps a law firm demonstrate adherence to its conflict-of-interest screening obligations?
Answer: Maintaining a searchable, comprehensive conflicts database updated at each new client or matter intake
A comprehensive, searchable conflicts database that is updated at every new intake is the standard practice for demonstrating systematic compliance with conflict-of-interest obligations.