All Risk Management articles – Page 73
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ArticleCompliance takeaways from Biden strategy on countering corruption
President Joe Biden’s sweeping anti-corruption initiative includes developments in two key areas of interest for the compliance profession: the U.S. beneficial ownership registry and a new proposal to expand reporting requirements on cash real estate transactions.
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ArticleGreensill report: British Business Bank loan approvals lacked due diligence
The British Business Bank failed to carry out sufficient due diligence when it gave collapsed lender Greensill Capital approval to hand out £350 million (U.S. $465 million) under the government’s pandemic support program, according to a U.K. Parliament report.
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ArticleFTC targets Walmart, Amazon, and more for study into supply chain disruptions
The Federal Trade Commission is ordering nine large retailers, wholesalers, and consumer goods suppliers to provide wide-ranging information as part of a study the agency is conducting into the causes behind ongoing supply chain disruptions.
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ArticleCommerce Department to examine privacy concerns of disadvantaged communities
The Biden administration, through the Commerce Department’s National Telecommunications and Information Administration, intends to broaden the way it addresses privacy concerns for marginalized and disadvantaged communities.
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ArticleU.K. Corporate Governance Code gaps remain despite reporting improvements
U.K. companies have improved corporate reporting—particularly on environmental and social issues—despite more instances of noncompliance with the Corporate Governance Code, according to the Financial Reporting Council’s latest review.
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ArticleBanking regulators pledge to examine crypto asset risks in 2022
Determining whether crypto assets are legal, safe, and provide consumers with adequate protection from fraud are three areas of concern federal banking regulators say they will examine in 2022.
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ArticleCassava Sciences facing widening probe over short seller claims
The SEC has reportedly launched an investigation into Cassava Sciences regarding allegations made against the clinical-stage biopharmaceutical company and its experimental Alzheimer’s drug by a law firm representing anonymous short sellers.
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ArticleActivision Blizzard case study: When CCOs become the CEO’s mouthpiece
Many chief compliance officers report directly to the board or chief executive officer. But what happens to the CCO when the CEO is the problem? Take Activision Blizzard as an example of what not to do.
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ArticleGoDaddy data breach affects 1.2M customers
Web hosting company GoDaddy announced an unauthorized third party obtained the email addresses and customer numbers of up to 1.2 million users after improperly accessing its Managed WordPress hosting environment.
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ArticleDeutsche Bank names Olivier Vigneron group chief risk officer
Deutsche Bank announced the appointment of Olivier Vigneron as group chief risk officer. Following regulatory approvals, Vigneron will assume the role effective June 1, 2022.
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ArticleHow agile companies succeed in the throes of supply chain woes
In the midst of unimaginable global supply chain chaos, leading companies are adjusting their supply chains in a variety of ways, turning disruption into competitive advantage.
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ArticleFinCEN notice warns banks of environmental crime
The Financial Crimes Enforcement Network issued a notice to banks and other financial institutions calling attention to what it has identified as a rising trend in environmental crimes.
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ArticleRule requires banks report significant ‘computer-security incidents’ within 36 hours
Federal banking regulators issued a rule that requires financial institutions to notify their regulator within 36 hours of a “computer-security incident” that materially affects their operation, ability to deliver services, or the stability of the financial sector.
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ArticleMcKinsey affiliate to pay $18M for poor handling of nonpublic information
MIO Partners, a wholly owned subsidiary of management consulting firm McKinsey & Company, has agreed to pay an $18 million penalty for failing to maintain adequate policies and procedures to prevent the misuse of material nonpublic information.
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ArticleSEC enforcement report: Total actions down in FY2021; first-of-their-kind cases up
The number of total enforcement actions filed by the Securities and Exchange Commission fell 3 percent in fiscal year 2021, according to the agency’s annual enforcement report.
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PremiumInside the Mind of the CCO: New responsibilities come to fore in 2021
For the third straight year, respondents to our “Inside the Mind of the CCO” survey indicated lack of support and resources as the No. 1 part of their job that keeps them up at night. It’s cause for concern, especially as the role’s mandate grows.
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PremiumCompliance must carve out role in company ESG efforts
Respondents to our “Inside the Mind of the CCO” survey agree compliance should play a key part as businesses determine their ESG strategy—either through primary oversight or meaningful participation.
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PremiumDEI & compliance: Signs of advancement and complications
A global outcry for racial justice reached a crescendo in 2020, and corporate America pledged to “meet the moment” with transformative change. According to our “Inside the Mind of the CCO” survey, there are macro signs of companies trying to move the needle, but gaps in DEI progress remain.
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PremiumThe year of ransomware: How companies are boosting cybersecurity controls
High-profile ransomware events over the last year have prompted businesses to beef up cyber defenses through new investments, increased training, and more, according to our “Inside the Mind of the CCO” survey.
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ICA launches financial crime risk assessment tool
The International Compliance Association has launched an enterprise-wide risk assessment tool to help its members better assess, document, and manage financial crime risk.