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Contract Cloud Archives

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Contract Cloud & Retail Investing

What risks are present for investment platforms, investment advisory firms and broker-dealers in retail investing?

Investment platforms, investment advisory firms and broker-dealers (collectively “Financial Services Providers”) all face exposure to fines from regulators as well as litigation from investors. Regulatory agencies including the Consumer Financial Protection Bureau (“CFPB”), Securities and Exchange Commission (“SEC”), and Financial Industry Regulatory Authority (“FINRA”) can impose large fines and file lawsuits against Financial Services Providers for violation of industry specific rules and federal laws. The costs of these regulatory actions can reach billions of dollars. Financial Services Providers need a better method of protection to defend against regulatory actions and disputes filed by their investors.

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Obtaining Medical Informed Consent

How does Contract Cloud help the patient informed consent process?

Institutional Review Boards (IRBs) and Research Sponsors are required to obtain and document patient informed consent in accordance with the FDA’s Health and Human Services Code of Federal Regulations, Title 21, Chapter 1, Part 50. Contract Cloud helps IRB and Research Sponsor compliance by implementing a digital video witness during the informed consent process. The patent-pending system demonstrates patient identity, timing, understanding and intent, while maintaining patient privacy and platform security.

For information on how IRBs and Research Sponsors can use Contract Cloud to regulate internal operations please see “Contract Cloud & Documenting Medical Informed Consent.”

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Contract Cloud HIPAA Compliance Overview

How does Contract Cloud support HIPAA compliance within its product and platform?

Contract Cloud helps healthcare customers meet compliance requirements by controlling the video attestation process and ensuring all information is authenticated and remains both private and secure.

Contract Cloud shares HIPAA obligations with cloud computing provider, Amazon Web Services (AWS). The terms of this agreement are available upon request and defined in our Business Associate Addendum (BAA). AWS provides Contract Cloud with a secure, durable technology platform with industry-recognized certifications and audits: PCI DSS Level 1, ISO 27001,ISO 9001, FISMA Moderate, and SOC 1/SSAE 16/ISAE 3402.

The AWS services and data centers utilized by Contract Cloud have multiple layers of operational and physical security to ensure the integrity and safety of our data. The AWS services that we utilize, as included our BAA, Amazon EC2 and Amazon S3.

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How Contract Cloud Supports Crowdfunding Platforms

How does Contract Cloud support Rule 506 of Regulation D?

Crowdfunding platforms are allowed to sell securities to “accredited investors” in accordance with Rule 506 of Regulation D (“Reg D”) under Section 4(a)(2) of the Securities Act of 1933. Contract Cloud helps crowdfunding platforms comply with Sections 506(b) and 506(c) by implementing a video attestation process during investor profile creation. The patent-pending system ensures the video is authentic, while maintaining investor privacy and platform security.

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