All cyber-risk articles – Page 2
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Blog
IOSCO updates securities markets risk assessment
The International Organization of Securities Commissions has published the “IOSCO Securities Markets Risk Outlook 2016,” examining key trends in global financial markets and their potential risks to financial stability. Among matters addressed in the forward-looking report: corporate bond market liquidity; the use of collateral in financial transactions; and cyber-threats.
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Blog
Podcast: how boards can improve risk response
In the latest CW podcast, we chat with Steven Kreit, partner with accounting firm EisnerAmper, about the firm’s recent “Concerns About Risks Confronting Corporate Boards” survey. Director worries haven’t changed much since last year, with reputation risk and cyber-security perennial causes of angst, according to the survey. However, there does ...
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Article
The Silver Lining of Sharing Data on Cyber-Risks
After many months of debate, President Obama finally signed the Cyber-Security Information Sharing Act into law. The question businesses are asking: In practical terms, is it good news or yet another cyber-security-triggered migraine? While concerns abound, notably around privacy issues, companies may still find plenty to appreciate in the legislation ...
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Blog
RMS Launches New Data Standard for Managing Cyber Insurance
Ahead of the February launch of its new suite of cyber-risk management tools, RMS today released its recently developed Cyber Exposure Data Schema. The ‘open standard’ data schema will provide the insurance industry with a systematic and uniform way to capture cyber exposure data and manage cyber accumulation risk.
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Blog
Report Card on This Year, and Governance Predictions for 2016
As one year closes and another begins, so does the cycle of talk on what corporate governance issues will challenge Corporate America in 2016. Inside, columnist Richard Steinberg reviews what he thought the big issues of 2015 would be (cyber-risk, shareholder proxy access, CEO succession, etc.), and how those subjects—and ...
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Article
The Keys to Better Access Control Systems
Image: Gone are the days when “access control” meant locking your door or filing cabinet. Now compliance, IT, and audit teams must collaborate on controls to access networks rather than physical stores of information. Inside, we look at three best practices to design strong access control and at how to ...
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Article
FSOC Report Offers Tea Leaves for Future Regulatory Focus
What are the top threats to the U.S. financial system? In a new report, the Financial Stability Oversight Council cites cyber-security, financial innovations, and high-frequency trading among the problems regulators must address. Critics fret, however, that the agency wants “to get rid of the capital markets and replace everything with ...
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Blog
SEC Exams Reveal Mixed Bag of Financial Firms' Cyber-Security Efforts
Last year, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations examined 106 broker-dealers and investment advisers in an effort to better understand how they address the legal, regulatory, and compliance issues associated with cyber-security. An OCIE risk alert released this week breaks down the findings of the ...
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Article
Smarter Assessments of Cyber-Risk
Image: Every compliance and audit executive wants to manage cyber-security risks. That assumes, however, that the whole organization agrees on what a cyber-security risk is. Taxonomies do exist to build a more disciplined approach to cyber-security. Try to take all steps to manage all such risks, and “it’s going to ...
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Article
COSO Tacks Toward Cyber-Security
As cyber-security works its way onto the corporate board agenda, COSO is suggesting ways that its frameworks for internal control and risk management can be a starting point for companies to anticipate fast-emerging risks. “Just as the board is responsible for enterprise risk management, this is very similar,” says Mike ...
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