Risk Mitigation Risk Management

News & Analysis as of

Advanced Cyber Security Center Panel Explores Reasonableness in Cybersecurity

I had the pleasure of moderating an excellent panel at the Advanced Cyber Security Center’s annual conference on November 4. The panel’s topic for discussion was “What is Reasonable in Cybersecurity: Responsibility and...more

What the Recent NAIC Financial Condition Examiners Handbook Changes Mean for Insurers

On September 21, 2015, the National Association of Insurance Commissioners (NAIC) IT Examination Working Group adopted amendments to the IT section of the Financial Condition Examiners Handbook (“the Handbook”). The changes...more

Cybersecurity and Risk Management: “Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers”

A timely new resource for business executives, technology professionals, and lawyers alike is the newly-published Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers from the New York...more

Why Mitigation Should Be a Dirty Word: The Implications of a Compliance Industry Evolving Away From Risk and Towards Strategy

It used to be a compliance officer’s primary job could be boiled down to two words: risk mitigation. This was true of General Counsels, Chief Compliance Officers, Chief Legal Officers, and other C-level leaders....more

The Modern Slavery Act 2015

The UK’s Modern Slavery Act is an effort by the government to end all forms of labour exploitation. The UK’s Modern Slavery Act 2015 aims to prevent all forms of labour exploitation and increase transparency of labour...more

Update on Significant DOT, FAA and Other Federal Agencies’ Aviation-Related Regulatory Actions - October 2015

This edition of the Cozen O’Connor Aviation Regulatory Update reports on Congress’s six-month extension of FAA’s reauthorization; new U.S. Bilateral Aviation Safety Agreements with the European Union and Canada; the FAA’s...more

Making Compliance Easier and Smarter Through Technology: Intuitive Interface and Intelligent Data Gathering is Helping WorldRemit...

WorldRemit is an online money transfer service. It’s bringing a strong challenge to other players in this field through easier-to-use services and lower fees. But while it may be an innovative company, it is still challenged...more

In the Wake of France’s Adoption of a Class Action Model, Companies Domiciled and Doing Business in France Should Ensure Insurance...

In the wake of the institution of class action claims in France, where, unlike the U.S. class action model, liability and damages are assessed prior to “massification” of the class, corporations should prepare for these new...more

Cure of Security Rule Violations Following Breach of EPHI Cannot Save Covered Entities from $750,000 Settlement; Non-Breach...

More than three years after the Cancer Care Group, P.C. (“CCG”) notified the U.S. Department of Health and Human Services (“HHS”) Office for Civil Rights (“OCR”) of a breach of unsecured electronic protected health...more

SEC’s OCIE Risk Alert Announces New Cybersecurity Exam Initiative – Focus Includes Conducting Tests of Efficacy of Firm’s...

Following up on last year’s cybersecurity sweep exam, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a new Risk Alert on September 15, 2015, announcing a second round of cybersecurity exams. In...more

SEC and DOJ Hacking Prosecutions Highlight SEC’s Increased Interest in Cybersecurity Risks

Companies are reminded of the need for strong internal controls. The US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) recently filed civil and criminal actions in the largest hacking and...more

Program Measurement, Reporting and Benchmarking: Thoughts and Insights from a Group of Compliance Executives

Last week, we hosted our first Compliance Tech Talk event. Just in case you missed our blog post about this new event series, Compliance Tech Talks bring compliance executives together for a interactive roundtable discussion...more

Separately Assessing Separation Agreements

Separation or severance agreements —which typically provide a terminating employee with some kind of cash payment, temporary salary continuation, or other gratuitous benefit in exchange for a release of claims — have their...more

New Citywide Construction Fraud Task Force Promises Tough Enforcement

On August 5th, the Manhattan District Attorney (the "DA’s Office") announced the formation of a multi-agency Citywide Construction Fraud Task Force that will be spearheaded by prosecutors from the office. Its mission is...more

Cybersecurity Update - July 2015

Employees are the front line of your information security defense. While technological protections are essential (for example, anti- virus software, firewalls, spam filters, etc.), none are as effective as a vigilant end...more

Your Questions: Let’s Talk Risk - A Q&A Session about How to Achieve a Risk-based Approach to Compliance Management

Risk is at the heart of every compliance program. But that’s sometimes easier said than done. In January 2015, Kwamina Williford, Partner at Holland & Knight; Chris Caron, Compliance Director at Kiewit; and Joe LeBas of...more

New Whitepaper: Reasonable Steps to Protect Trade Secrets

Every company has trade secrets (so-called “crown jewels”)– confidential business and technical information – that if exposed, could result in lost sales, competitive advantage or the ability to further innovate....more

4 Key Benefits of Compliance Technology: How to Build the Business Case for Investing in Modern Compliance Technology

Let’s face it, we live in a technological world where we expect to get more intelligent information faster than ever before. Yet compliance functions are still spending a disproportionate amount of time collecting data with...more

Cyber Security - Risk Management and Mitigation

In This Issue: - Agenda - Current Threat Environment - Current Threat Environment - Strategic Importance - Asian Data Privacy Regimes At-A-Glance - Data Protection: Regional temp - Asia-Pacific...more

Assessing Your Approach To Compliance Risk Management: Compliance Programs Should Be Risk-Based — Here's How You Get There

Risk assessments are one of the first steps on the path to an effective risk-based compliance program, but it’s how you continue to manage and mitigate risk that truly determines if your program is successful. Kwamina...more

8 Strategies for Compliance Risk Management: How to Fortify Your Efforts, Reduce Risk and Increase Confidence in Your Program

As a compliance practitioner, your goal is to design and oversee a program that’s comprehensive enough to mitigate risk, strong enough to address issues that occur (because they always can, and will) and robust enough to...more

Corporate Risk Ownership: When There are Multiple Teams Involved, Who Owns What?

“We have a enterprise risk management team. Where does their role end and ours begin?” That’s a common question as compliance teams mature their programs into risk-based approaches. The truth is, compliance risk...more

Asset Management Firms And The Risk Of Market Abuse: Key Practical Points From The FCA's Thematic Review Feedback And Recent FCA...

Tackling market abuse continues to be a strategic priority for the FCA. In late 2014, the FCA undertook a thematic review into asset management firms and the risk of market abuse, the results of which were published in...more

Cybersecurity Breach: Are Board Members at Risk?

It seems a month does not pass in which some sort of breach of confidential data of a business is not announced to the public. With the increase in cybersecurity breaches, so increases board members’ exposure to litigation...more

Orrick's Financial Industry Week in Review

IOSCO Publishes Consultation Paper on Risk Mitigation Standards for Non-Centrally Cleared OTC Derivatives - On September 17, the IOSCO published a consultation paper on risk mitigation standards for non-centrally...more

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