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New Year, New NISPOM | Stroock & Stroock & Lavan LLP

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On December 21, 2020, the National Industrial Security Program Operating Manual (“NISPOM”) was published as a final rule in the
Federal Register. A revision to the NISPOM has been expected for a number of years, and is effective today, February 24, 2021. A number of changes were made to this iteration of the NISPOM, but most of the changes merely formalize current U.S. government policies that were not previously described in the manual. In any case, companies who currently possess, are in process for, or are seeking a facility security clearance should review how the NISPOM changes apply to their specific circumstances and goals going forward. ....

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Alert: DoD Codifies NISPOM, Makes Changes Concerning Access to Classified Information | Cooley LLP

The Department of Defense has issued a final rule codifying the National Industrial Security Program Operating Manual in the Code of Federal Regulations at 32 C.F.R. Part 117, effective. ....

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Contractors Have Six Months to Comply with NISPOM Regulation

Thursday, January 28, 2021
On December 21, 2020, the Department of Defense (“DoD”) published a final rule in the Federal Register that codifies the National Industrial Security Program Operating Manual (“NISPOM”) in the Code of Federal Regulations (“CFR”) at 32 CFR part 117. The rule will become effective on February 24, 2021, giving contractors six months from the effective date to comply with the changes. Comments on the proposed change are due by February 19, 2021.
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The NISPOM establishes various requirements and standard procedures for the protection of classified information disclosed to or developed by government contractors. It was first published in 1995 as DoD Manual 5220.22, and was intermittently updated through the years including (most recently) via Conforming Change 1 on March 28, 2013, and NISPOM Change 2 on May 21, 2016. In addition to adding the NISPOM to the CFR, the new rule will incorporate the requirements of Security Exe ....

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Weekly Update for Government Contractors and Commercial Businesses – January 2021 | PilieroMazza PLLC

Purchase Agreement Components, Part 2: Indemnification Provisions, January 8, 2021, Frank Massaro
In an acquisition, particularly an equity acquisition, a buyer must perform extensive due diligence on the target company to understand, as thoroughly as possible, the risks associated with the acquisition. In most cases, however, the buyer cannot fully evaluate or even identify all sources of risk that it will assume post-closing. To address these uncertainties and allocate these potential risks, the buyer and seller negotiate indemnification provisions that set forth the scope of each party’s obligation to reimburse the other party for certain losses associated with the acquisition that may arise following closing. ....

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DOD Issues Final Rule Codifying the NISPOM | Wiley Rein LLP

The Department of Defense (DOD) is adding the National Industrial Security Program Operating Manual (NISPOM) to the Code of Federal Regulations (CFR). According to the final rule. ....

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