News began to spread last month about an extraordinary cyber attack on a large hedge fund that struck at the firm’s high-speed trading apparatus. The assault appeared to take the hacking of financial firms to a whole new level. According to an executive at BAE Systems, the firm was hired to help the hedge fund […]
Risk Management
Posted inInternal Controls
RTI International Metals Names Chief Risk Officer
RTI International Metals, an integrated global supplier of advanced titanium and specialty metals products and services, has named Bill Hull to the newly-created role of chief risk officer, effective as of July 1. Hull, who’s served as RTI’s chief financial officer for the last seven years, will now have responsibility for enterprise-wide risk management activities, […]
Posted inEthics & Culture
As Sustainability Reporting Matures, Focus Shifts to Materiality
Corporate America is on the verge of a major revolution in sustainability reporting. Everything—the what, how, and when—is about to change. The way companies have traditionally approached sustainability reporting is to disclose in anecdotal terms their environmental, social, and corporate governance (ESG) efforts in their annual reports. A lack of standard disclosure metrics, however, continues […]
Posted inBoards & Shareholders
Boards Struggle With Overseeing Cyber-Security Risks
With cyber-attacks becoming more frequent and costly for companies, boards are looking to provide more oversight on cyber-security risks, but many are stuck on just how to do it. Earlier this month, during a speech, Securities and Exchange Commission member Luis Aguilar expressed his hope that public companies will consider board-level risk committees to address […]
Posted inRisk Management
Getting to Global Financial Crisis 2.0
Let’s talk about global financial meltdowns and economic disaster. We have some fresh thinking on that subject. Last week the International Organization of Securities Commissions published its annual survey of securities markets risks, which takes a look at what’s on the mind of securities regulators around the world. In theory, IOSCO members (the Securities and […]
Posted inBoards & Shareholders
Boards Struggle With Overseeing Cyber-Security Risks
With cyber-attacks becoming more frequent and costly for companies, boards are looking to provide more oversight on cyber-security risks, but many are stuck on just how to do it. Earlier this month, during a speech, Securities and Exchange Commission member Luis Aguilar expressed his hope that public companies will consider board-level risk committees to address […]
Posted inBoards & Shareholders
Boards Must Take More Active Cyber-Security Role, SEC’s Aguilar Says
Boards can no longer afford to pass the buck when it comes to cyber-security and would do well to adhere to voluntary government guidelines that could be a portent of eventual mandatory requirements. That was the warning from Luis Aguilar, a member of the Securities and Exchange Commission, during a speech at this week at […]
Posted inAccounting & Auditing
HHS Coming Down Harder on Healthcare Privacy Violations
The Department of Health and Human Services is issuing a stern warning to healthcare providers to take patient privacy issues seriously or suffer hefty fines and penalties. The healthcare regulator issued its largest monetary penalty last month for privacy violations under the Health Insurance Portability and Accountability Act since the law’s enactment 18 years ago. […]
