Regulators worldwide have been busy pumping out operational resilience regulations, particularly for the financial services industry. The three main regulations – DORA, APRA, PRA/FCA – have multiple phases with different effective dates. Here’s a [...]
During the holiday season, we see many compliance officers feeling the pressure as they struggle to ensure employees are complying with gifts and corporate hospitality guidelines. Breaches of these policies could not only see [...]
The EU AI Act has been unanimously approved by member states and in general will be fully applicable in two years. This groundbreaking legislation is the first globally to establish rules for artificial intelligence and [...]
The APRA CPS 230 standard is the Australian Prudential Regulation Authority’s addition to the ever-growing list of global operational risk and resilience-related requirements. Australian banks, insurance companies, and other financial institutions – including foreign institutions [...]
Data privacy regulations were cited as the top concern by 40% of more than 300 compliance and risk professionals recently surveyed by Riskonnect. Complying with far-reaching regulations like the EU’s GDPR (General Data Protection [...]
Businesses were exposed to new and expanded risks when employees abruptly began working from home during the pandemic. The most pressing risks – like IT security and remote accessibility – were quickly addressed. However, many [...]
Banking compliance professionals continue to confront myriad regulatory requirements around the globe, as well as internally driven demands. And this frenzy of activity is not expected to slow down anytime soon. Banking compliance is essential [...]
The U.S. Securities and Exchange Commission recently finalized rules on cybersecurity incident disclosures and risk management. While these rules apply directly to public companies, any company – public or private – doing business with a [...]
By Jim Wetekamp, CEO of Riskonnect | Published by Corporate Compliance Insights, August 14, 2023 In the nearly six months since the failure of Silicon Valley Bank (SVB), three others have gone belly-up, the [...]
All insurance relies upon spreading the risk between a variety of customers. Actuaries and underwriters rely upon historical data in order to set rates that should cover anticipated claims, allow their company a profit, and [...]
Silicon Valley Bank (SVB) was a well-established financial institution with $209 billion in assets under management (as stated in their 2022 financial statements) that collapsed into insolvency in a matter of days. How could this [...]
Financial compliance is not just about following the rules, it’s about building confidence among your people, investors, and customers that you’re doing more than checking the box. As the scope and complexity of regulation [...]
