Risk Assessment

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"CFIUS’s Annual Report to Congress Details Longer Process, More Aggressive Risk Mitigation"

Key Developments - The Committee on Foreign Investment in the United States (CFIUS) is an interagency, Executive Branch organization charged with identifying potential national security risks posed by foreign...more

Traversing the Breach: Why You Need to Prepare for Data Breaches and How to Do It

“At every board meeting, whether it’s monthly, whether it’s quarterly, cybersecurity should be on [the agenda]. If not, you’re going to wind up in a situation where you’re having an emergency board meeting to discuss...more

CFPB Deputy Director Discusses How the CFPB Prioritizes Its Risk-Focused Supervision Program

On February 18, Steven Antonakes, Deputy Director of the CFPB, delivered remarks before the Exchequer Club of Washington, D.C. regarding the CFPB’s risk-focused supervision program. In his remarks, Antonakes identified two...more

Farewell to Mr. Spock and Risk Assessment Under COSO

Leonard Nimoy died last Friday. He will be forever associated with the role of Mr. Spock in the original Star Trek television show which premiered in 1966. The original series ran for only three years but had a full life in...more

Goodyear’s Settlement with the SEC Emphasizes the Importance of FCPA Due Diligence in M&A Transactions and of Having a Robust...

On February 24, 2015, Goodyear Tire & Rubber Co. agreed to pay more than $16 million to settle charges that two of its subsidiaries allegedly paid $3.2 million in bribes that generated $14,122,535 in illicit profits. The SEC...more

Federal Trade Commission Guidance on the Internet of Things

On January 27, 2015, the FTC released its Staff Report on the so-called “Internet of Things” (IoT) – the ability of everyday objects (from refrigerators to wearable devices) to connect to the Internet and send and receive...more

FINRA Issues its Cybersecurity Report, Providing Tools and Encouragement to Broker-Dealers

FINRA recently issued a Report on Cybersecurity Practices (“Report”), growing out of its targeted examination of firms last year. To issue the Report, FINRA gave careful consideration to the needs of many broker-dealers for...more

The Foreign Corrupt Practices Act: A Pitfall in International Trade

The Foreign Corrupt Practices Act (“FCPA”) should be top of mind for any manufacturer conducting or considering international business. Indeed, any doubts that the government was still interested in investigating and...more

Board Oversight of Cyberrisks: Directors and Officers Litigation

The duty of a board to monitor and oversee organizational risk includes cyberrisks. As cyberrisks and incidents proliferate, boards are seeking to enhance the information they receive about cyberrisks and incidents. One...more

FCPA Compliance and Ethics Report-Episode 130, The Oscars and Compliance, Part IV with Jay Rosen [Video]

In this Part IV of my continued exploration of the Oscars and compliance with Jay Rosen, we look at the touchpoint which Hollywood and the movie industry has which might subject it to FCPA liability. ...more

Cyber Attackers Reach Anthem, Health Care Providers Seen As Vulnerable

Anthem, one of the nation’s largest health insurers, announced last Wednesday that it had been attacked by cyber hackers and that personal information for as many as 80 million individuals had been compromised....more

When Bad Things Happen at Good Facilities (Hazardous Air Pollutant Edition)

Malfunctions happen, even at a well-managed facility. When they happen, they can cause a facility to deviate from emission limits or other standards regarding (among other things) hazardous air pollutants. Furthermore,...more

New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity...more

COSO and Internal Controls – Part V

This post concludes my exploration of internal controls and how companies can demonstrate compliance with the internal controls requirement under the Foreign Corrupt Practices Act (FCPA) by adhering to the Committee of...more

Pressure Points: OCR Enforcement Activity in 2014

During 2014, the Office for Civil Rights (OCR) of the U.S. Department of Health & Human Services initiated six enforcement actions in response to security breaches reported by entities covered by the Health Insurance...more

"Managing Regulatory Risk in Bank M&A"

We expect the slowly developing but increasingly perceptible trend toward community and regional bank consolidation in the United States to continue in 2015. In connection with growing bank M&A activity, closing risk in the...more

Potential Pitfalls in Data Licensing and Big Data Analytics

The trend in Big Data analytics among companies shows no sign in abating, with companies covetously collecting vast amounts of data with the hopes of harvesting market differentiators. A study by open-source research firm...more

Come Together? 10 Things to Consider Before Moving to Consolidate

Consolidation can be a useful efficiency technique because it allows the court to combine two or more separately filed lawsuits for simultaneous disposition. This efficiency is not without danger—consolidation may produce an...more

Breaches in the Boardroom: What Directors and Officers can do to Reduce the Risk of Personal Liability for Data Security Breaches

Corporate directors and officers may increasingly be targets of shareholder derivative lawsuits in the wake of the surge of regulatory actions and private litigation around data breaches,. While no individual directors and...more

Hackers Gonna Hack—FINRA’s Report on Cybersecurity Practices Assists Firms in Responding to Threats

On February 3, 2015 the Financial Industry Regulatory Authority (FINRA) released its long-awaited Report on Cybersecurity Practices, a broad overview of the state of play in the cybersecurity arena for broker-dealers....more

Blog: Agenda Overload For Audit Committees?

In its 2015 Global Audit Committee Survey, KPMG found that audit committee members around the world had four key concerns: “economic and political uncertainty and volatility, regulation and the impact of public policy...more

Post claims Underwriting– Can Insurers Increase the Self Insured Retention Based on a Claim?

Insurers have generally two departments: underwriting and claims. Underwriters negotiate the terms of the offer of insurance and include, in their internal analysis, how much risk the insurer wants to accept and at what...more

Selfie-Sticks and Risk Assessments

Greetings from Venice and a big thanks to Joe Oringel at Visual Risk IQ for allowing my to post his five tips on working with data analytics while I was on holiday in this most beautiful, haunting and romantic of cities....more

CRM Success Steps and Strategies - Part 4: Vet Systems and Vendors

Only once you have clearly articulated needs and agreed upon goals, you can begin identifying potential systems to address them. Properly deployed and supported, CRM systems are invaluable because they can do so many things. ...more

Alert: Federal Trade Commission "Internet of Things" Report Stirs Debate over Consumer Protection in a Connected World

On January 27, 2015, the Federal Trade Commission (FTC) released a staff report titled Internet of Things—Privacy and Security in a Connected World. The report summarizes the topics discussed and input provided by...more

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