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In June 2016, AmSurg Corp. and Envision Healthcare Holdings, Inc. (Envision) announced they have signed a definitive merger agreement pursuant to which the companies will combine in an all-stock transaction. Upon completion of the merger, which is expected to be tax-free to the shareholders of both organizations, the combined company will be named Envision Healthcare Corporation and co-headquartered in Nashville, Tennessee and Greenwood Village, Colorado. The company's common stock is expected to trade on the New York Stock Exchange under the ticker symbol: EVHC. Bass, Berry & Sims served as lead counsel on the transaction, led by Jim Jenkins. Read more.

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Inside the FCA blogInside the FCA blog features ongoing updates related to the False Claims Act (FCA), including insight on the latest legal decisions, regulatory developments and FCA settlements. The blog provides timely updates for corporate boards, directors, compliance managers, general counsel and other parties interested in the organizational impact and legal developments stemming from issues potentially giving rise to FCA liability.

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Retailers Urge Tokenization of Payment Cards to Curtail Data Breach


August 1, 2014

As we mentioned in our earlier Alert, the time for issuance of secure payment cards, both credit and debit, may be close at hand. On July 29, 2014, the Merchant Advisory Group, as well as a disparate group of retail industries, including grocers, restaurants, and convenience stores1, issued a joint statement calling for an "open process for the creation of security standards to better protect U.S. consumers and businesses from cyber criminal activity," including adoption of "tokenization" throughout the U.S. payment system.

The letter recognizes the three locations or instances where confidential retail customer information may be compromised:  1) where the payment card is swiped, or the card number entered, 2) where the card information is stored, and 3) during transmittal.

Tokenization refers to the replacement of sensitive customer data with a unique "token," significantly increasing the security of the customer's confidential information. A customer swipes or presents the payment card in typical fashion. The retailer then transmits the customer's data to its payment processor, where it is encrypted. The payment processor then sends a token back to the retailer containing the transaction information, where it is unencrypted. The merchant can use the unencrypted information to track the transaction in its payment system. However, since the confidential payment information has been removed, a breach of the retailer's system would not allow the hacker to access the customer's financial information. Meanwhile, the entire process is invisible to the customer.2

Because tokenization typically does not require significant changes in a retailer's payment acceptance systems, some retailers have already adopted the process. However, the retailers' July 29 statement recognized that widespread use may require the creation of a standard, open platform usable by all merchants, card issuers, and payment processors (including banks). As the repository of the confidential customer data, it is the payment processors who bear the biggest burden -- and highest data breach risk -- by extensive adoption of tokenization. Nevertheless, in light of several very recent high-profile retail data breaches (e.g., Target, Michael’s, eBay), retailers now recognize that ensuring the confidentiality of customer financial data has become a critical aspect of their business standards and strategy, if not even survival.

Food Marketing Institute, National Association of Convenience Stores, National Grocers Association, National Restaurant Association, National Retail Federation, and Retail Industry Leaders Association.

The Letter noted that tokenization "will also be a valuable tool to secure data in other aspects of commerce, such as age verification identify checks, and storage and transmission of electronic health records and pharmacy prescriptions." 

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