All Risk Management articles
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CFTC commissioner calls for AI framework in commodities markets
A commissioner at the Commodity Futures Trading Commission is calling for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
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CW2024 panelists explain why BYOD at center of off-channel comms debate
The Department of Justice’s renewed scrutiny toward a corporation’s approach to the use of personal devices strengthens the case for companies to get away from bring your own device, a panelist at Compliance Week’s 2024 National Conference argued.
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Accountancy bodies urge ethical behavior amid exam cheating scandals
Trust in the integrity of corporate finance and auditing is vital, but repeated scandals over exam cheating at the largest multinational firms are denting faith in the system globally.
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News Brief
ADM CFO to depart amid accounting probes
Food processing company ADM announced Chief Financial Officer Vikram Luthar, who was placed on administrative leave in January amid a probe into the company’s accounting practices, will resign.
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Webcast
June 4 | Operationalizing Responsible AI: Developing a sustainable process to effectively manage risk
With recent advancements in generative technologies, the integration of AI into business operations has accelerated and thus, the concept of responsible AI has gained critical importance.
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FCA exploring how Big Tech data can aid financial services
The U.K. Financial Conduct Authority reemphasized its desire to work with Big Tech firms to examine how their data might be useful to the financial industry.
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News Brief
Consolidated Nuclear Security to pay $18.4M over timecard false claims
Consolidated Nuclear Security agreed to pay $18.4 million to settle alleged False Claims Act violations regarding the submission of timecards for unworked hours to the National Nuclear Security Administration.
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News Brief
Change Healthcare cyberattack updates detail massive impact, costs
The massive cyberattack on Change Healthcare has potentially compromised the personal and protected health information of an untold number of Americans, according to parent company UnitedHealth Group.
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News Brief
FCA publishes guidance on anti-greenwashing rule
The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.
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News Brief
BaFin fines Commerzbank $1.6M over supervision, AML lapses
Germany’s financial supervisory authority issued total fines of €1.45 million (U.S. $1.6 million) against Commerzbank AG to settle allegations of inadequate monitoring and anti-money laundering controls.
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Report: Poor awareness of supply chain disclosure regs leaving firms exposed
Compliance failures in the supply chain are hampering organizations’ efforts to implement environmental, social, and governance initiatives and meet disclosure requirements, according to a new report by U.K. law firm Burges Salmon.
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Resource
White paper: Automate to Accelerate: Overcoming Staffing and Compliance Challenges in Cyber Risk Management
Spending countless hours tracking down controls evidence for your audit and compliance activities is an annoyance at best and a major drag on productivity and effectiveness at worst.
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News Brief
OFAC fines SCG Chemicals unit $20M over Iran sanctions violations
A subsidiary of Thailand-based SCG Chemicals Co. agreed to pay a $20 million fine to the Office of Foreign Assets Control over “egregious” violations of sanctions against Iran.
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News Brief
OFAC sanctions Israeli entities funding West Bank settler violence
The Office of Foreign Assets Control sanctioned two Israeli entities for establishing fundraising campaigns for extremists fomenting violence in the West Bank.
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Webcast
June 18 | Digital Operational Resilience Act: Key provisions and best practices
This presentation will provide an overview of the key provisions of DORA and their implications for Third-Party Risk Management (TPRM) teams, list best practices for DORA preparation and review key considerations for teams looking to implement the DORA framework.
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EDPB decision sparks ‘consent or pay’ debate for Big Tech firms
Big Tech firms might need to rethink their plans to charge users for not selling their personal data for behavioral advertising following a decision by Europe’s primary data regulator.
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News Brief
OCC cites three banks for risk management, BSA-related failures
The Office of the Comptroller of the Currency cited three banks for unsafe and unsound business practices that mirror issues similar to what spurred last year’s banking crisis.
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News Brief
U.S. agencies launch portal for reporting anticompetitive healthcare practices
The Department of Justice’s Antitrust Division, the Federal Trade Commission, and the Department of Health and Human Services partnered to create an online portal for the public to report instances of anticompetitive practices in the healthcare sector.
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News Brief
Treasury kicks off new wave of Iran sanctions
The Treasury Department announced new sanctions against Iran, with Treasury Secretary Janet Yellen promising “further actions in the days and weeks ahead” following the Middle East nation’s attack on Israel.
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News Brief
SEC risk alert warns investment advisers of marketing rule missteps
Examiners with the Securities and Exchange Commission found investment advisory firms have generally done well creating processes to comply with the agency’s amended marketing rule but some have fallen short in ensuring compliance.