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 AML: the regulatory landscape

 Risk Universe
 Carrie Cook
 AML Report Final.pdf
Financial institutions may have their minds on other matters post-US election, mid-pandemic and pre-Brexit. But the ever-present issue of AML compliance only looks set to get more complex in coming months. As a tranche of new measures approaches, Risk Universe dissects some of the key regulation updates on the horizon, plus sheds light on the context in which these changes have been made.

 GDPR: the next challenge

 Risk Universe
 Carrie Cook
 GDPR Report.pdf
GDPR (General Data Protection Regulation) has been a key regulatory challenge for firms in recent years as they rushed to ensure compliance before it came into play in May 2018. Since then, record fines have been issued to major organisations, including British Airways (BA), Google and H&M. In this report, we take a look at some of the high-profile examples of GDPR breaches and penalties, plus the key data-protection issues firms should be aware of as we approach the end of the Brexit transition period.

 Three Lines versus Three Lines of Defence

 14th October 2020
 The Risk Universe
 Carrie Cook
 Three Lines vs 3LoD Report.pdf
The Three Lines of Defence has had a makeover, but does it offer greater clarity, or are the lines more blurred than ever before? In this latest report for RiskBusiness, I discuss some of the key changes and most common criticisms of the IIA's new Three Lines Model for risk management and corporate governance.

 The operational risks inherent in LIBOR transition

 28th September 2020
 The Risk Universe
 Carrie Cook
 Oprisks and LIBOR.pdf
Even if you’ve never worked in the financial services industry, it’s likely you will have at least heard of LIBOR (London
Interbank Offered Rate) and probably for all the wrong reasons. The term has become synonymous with corrupt bankers,
market manipulation and record-breaking financial penalties. As a result, by the end of 2021, what was once dubbed the
“world’s most important number” will be phased out altogether. In this report, Carrie Cook looks at the operational risks involved with the transition process and what firms should be doing to prepare.

 Enterprise Risk Management

 16th September 2020
 The Guardian
 Enterprise Risk Management.pdf
A supplement to The Guardian on Enterprise Risk Management.


 Absa bank embroiled in data leak, rogue employee accused of theft

Absa has notified customers of a data breach potentially compromising their personal information.

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 IIROC to hold settlement hearing for Vancouver investment advisor Glenn Molson

The Investment Industry Regulatory Organization of Canada (IIROC) has scheduled a hearing to consider whether a Settlement Agreement entered into between IIROC staff and Glenn Molson should be accepted.

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 Court orders judgments of over $30 million against entities and individuals that facilitated international microcap scheme

On November 20 and 23, 2020, a federal court in New York entered final judgments against Rajesh Taneja, Aaron Dale Wise, and Christopher McKnight for their roles in a scheme that generated more than $35 million of illegal sales of stock in at least 45 microcap companies. Among other things, the court ordered Taneja and Wise to pay a combined total of over $1.25 million in monetary relief. The court previously entered final judgments in May 2020 against six companies involved in the scheme and ordered the companies to pay a combined total of close to $32 million.

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