Risk Assessment

News & Analysis as of

Damages in bullying claims – the stakes are rising even higher

The Victorian Supreme Court recently issued a stunning decision awarding an employee over $600,000 comprising $210,000 for pain and suffering and the balance for lost past and future income, despite the employee having a...more

New Guidance from the DOJ on Your Compliance Program

The U.S. Department of Justice (DOJ), Criminal Division, Fraud Section, recently released new guidance associated with its Guide to the U.S. Foreign Corrupt Practices Act. The guidance, entitled Evaluation of Corporate...more

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Health and safety sentences: update on the sentencing guidelines one year on

Employers have a general duty to ensure the safety of their employees under section 2 of the Health and Safety at Work Act 1974. On 1 February 2016, the new sentencing guidelines for health and safety offences came into...more

CSBS Releases BSA/AML Risk and Controls Self-Assessment Tool

The Conference of State Bank Supervisors (CSBS) has continued its efforts to promote improvements in Bank Secrecy Act/Anti-Money Laundering compliance with the release in January 2017 of a new BSA/AML Self-Assessment Tool for...more

Wage and Hour Compliance: Practical Tips For Preventing A Preventable Problem

Wage and hour litigation continues to pose a threat to employers, especially in California. There are many potential reasons for the persistence of this phenomenon, despite increased awareness of the issue by the business...more

New DOJ Evaluation – Valuable Document for the Compliance Practitioner: Part I

I guess Matt Kelly cannot leave his journalist roots for it was he who broke the story within the greater compliance community that the Department of Justice (DOJ) very quietly released a document, entitled “Evaluation of...more

Cybersecurity Threats for Treasury & Payment Management Systems Report Released

Pactera Technologies N.A., Inc. [www.Pactera.com] has released the report “Cybersecurity Threats for Treasury & Payment Management Systems: Six Things you Should Know to Manage Them.” It is easy to understand and pertinent,...more

DOJ Fraud Section Unveils Blueprint for Assessing Corporate Compliance Programs

In the year and a half that has transpired since the DOJ's Fraud Section retained a compliance consultant to assist prosecutors' evaluation of compliance programs, compliance officers, general counsels and white-collar...more

China moves to implement security review of network products and services: but leaves foreign investor and manufacturer concerns...

On 4 February 2017, the Cyberspace Administration of China issued a draft of the Network Products and Services Security Review Measures (“Draft Measures”) for public comment: the Draft Measures remain open for comments until...more

FMA releases Strategic Risk Outlook

The New Zealand Financial Markets Authority (FMA) has today released its Strategic Risk Outlook (SRO), expanding on the seven strategic priorities it established in 2014. You can find a copy of the SRO on the FMA's...more

Effective Ethics and Compliance Training

In a recent Slate article, entitled “Ethics Trainings Are Even Dumber Than You Think”, author L.V. Anderson railed against what she termed box-checking training where companies put on training not to actually train employees...more

Cybersecurity: 2017 Report & 2016 Reflections - What Businesses and Boards Need to Know

In 2016, cybersecurity continued to grow as a primary business risk for companies worldwide. Data breaches continued to escalate both in number and magnitude and the landscape of legal and regulatory liability evolved and...more

Hotel Cybersecurity: What can happen when hackers strike?

Last year, at the Global Hospitality Group’s Meet the Money™ Conference, I participated in a panel on Cybersecurity and we discussed how cybersecurity issues affect the hotel industry. One of the comments was that hotels,...more

Risk in Compliance Week: Part V – So What?

This week I have devoted my blog posts to thinking about the management of risk by considering the tools of forecasting, risk assessment and risk-based monitoring. I have been assisted on this journey by Ben Locwin, Director...more

Risk in Compliance Week: Part IV – White Noise and Interpreting Data

I continue this week’s series based upon interviews with Ben Locwin, Director of Global R&D at BioGen and an operational strategist in pharma and healthcare, to explore risk forecast, risk assessment and risk monitoring for...more

SEC 2017 Examination Priorities Focus on Retail Investors, Seniors and Retiring Investors, and Market-Wide Risk Assessment

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) on January 12, 2017 announced its examination priorities for the current year. The priorities extend to nearly...more

Risk in Compliance-Part III, Risk-Based Monitoring

Today I continue my exploration of risk in compliance by starting a consideration of risk-based monitoring. As I have the previous two days, I honor a television star who died last week and today it is Mike Connors. While...more

New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape

In late December, New York State’s Department of Financial Services (“DFS”) released its revised proposed cybersecurity regulation (the “DFS Rule”). While the revisions pare back some of the DFS Rule’s original requirements...more

US Office of the Comptroller of the Currency Releases Semiannual Risk Report

The US Office of the Comptroller of the Currency released its Semiannual Risk Perspective for Fall 2016, which highlights key risks facing national banks and federal savings associations. The report highlighted that strategic...more

When Does a Tweet Become a Risk Factor?

It’s early days in the administration of President Trump, but already public reporting companies are considering how best to capture potential risks to their businesses as they draft their annual reports on Forms 10-K and...more

Risk in Compliance Week: Part II – Risk Assessments

I continue my exploration of risk in compliance by focusing today on risk assessments. However, before we get there, I wanted to pay tribute to one of the most well-known characters from television, Della Street, who was...more

Global Data Privacy Snapshot 2017: How does your organisation compare?

Personal information is an increasingly valuable business asset. Technology provides the opportunity to understand and engage with customers and stakeholders like never before. Deployed carefully, it can enhance...more

OCR settles with MAPFRE for $2.2 Million

MAPFRE Life Assurance Company of Puerto Rico learned the hard way about the risk of loss of patient information with portable devices like USBs, even when they are stored in the IT Department....more

All change for UK money laundering regulation? - Impact for the private equity industry

A number of very significant changes are being made to the UK anti-money laundering regime. Of particular interest to the private equity industry will be the proposed new criminal offence of failure to prevent the...more

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