Risk
Risk refers to threats an organization faces -- loss of earnings, loss of reputation, or harm of any kind. These articles explore the challenges of preventing, identifying and mitigating risk.
Risk can come in many forms, including financial issues, legal liabilities, strategic or leadership errors, or accidents and natural disasters. Today, IT- and data-related risks are growing concerns.
The following articles about risk look at the issue from many angles, especially from that of compliance officers and risk managers.
Where Central Banks Stand on Digital Currency
Clamored for in Europe, already implemented in China, Central Bank Digital Currencies (CBDCs) are viewed by many American leaders as unnecessary. The U.K., meanwhile, expects to develop one somewhere down the road. Skadden experts run down where regulators are at with CBDCs, and what may come to pass in the near future. Rundown of Central Bank Digital Currencies The Bank...
Your Company May Be a Likely Target of State Attorneys General. You May Not See It Coming.
Risk and compliance teams are familiar with potential enforcement from federal regulators. But action from state attorneys general (acting alone or in coalition) can take the unsuspecting business completely by surprise. And in recent years, those actions have grown more frequent, and the penalties more severe.
If Your Suit Is Stuck, These Best Practices Can Ensure a Strong Partnership with Litigation Counsel
Litigation can bring any company's legal and compliance functions grinding to a halt. The answer is to bring in external counsel. Still, impasses can crop up, and legal can be tapped strategically (such as during discovery). 'Fixer' and experienced litigator Kelly Purcaro offers the following tips to streamline this challenging process. The last thing any executive or business leader wants...
The New Era of Antitrust Enforcement
Risk managers and CCOs take note: DOJ and FTC have signaled a new era of antitrust enforcement. Leadership at both agencies is revamping guidance, and years-long efforts are beginning to bear fruit. Any company operating in a concentrated market could feel the effects of these changes. There is no question that we are facing a “perfect storm” of antitrust enforcement. ...
A Lapse in Safety Can Lead to Lawsuits for Directors and Officers. Boeing’s Board Learned That Firsthand.
Board members who neglect risk oversight, in turn, risk exposure to lawsuits via Director and Officer (D&O) Claims in the fallout of a major safety lapse. Boeing's Board of Directors learned that firsthand in a settlement stemming from Caremark claims reached late last year. Last year, the Delaware Court of Chancery handed down a warning to directors and officers of...
Climate Change Risk: The Race to Regulation
The risks associated with climate change are not only environmental; they are economic. Historically, climate change was seldom seen on the regulatory agenda for financial services, but an analysis by RegTech provider CUBE shows that's all changing — and rapidly. CUBE's report, Climate Change Risk: The Race to Regulation, uses its proprietary inventory of standardized global regulatory data, including more...
Can an Employee Be Fired for Sharing a Questionable Social Media Post?
Can an employee get fired for what they post on social media? It depends. While employers have broad leeway to terminate their employees, certain forms of speech – including speech posted on social media – are protected. Attorney Jennifer Spencer lays out a recent cases that inform jurisprudence.
Data Privacy Day: Let’s Take Stock of the Threat Landscape and State of Data Protection
Since last year's Data Privacy Day, system down times have continued to lengthen. Cyber insurance has continued to grow more expensive. AI remains a double-edged sword. As always, awareness training and security protocols serve the best shields in the ongoing defense against cybersecurity breaches. Data Privacy Day – or Data Protection Day for EU readers – is a yearly reminder...
US Risk Professionals See Pay Rise by About 14%
After a year of salary decline, risk management professionals in the U.S. and Canada saw their paychecks move in the positive direction again in 2021, according to RIMS' bi-annual compensation analysis. Risk management professionals at all levels and responsibilities in the United States experienced an average 14.4 percent base salary increase in 2021 compared to 2019, while Canadian practitioners experienced...
How the Rising Tide of Investor Demand Has Set the ESG Risk and Compliance Agenda
Where dollars go, regulation, reporting and risk follow. The demand and interest in ESG-aligned corporations shows no sign of ebbing, and businesses will need to do what they can to expand their ESG reporting and risk assessments. 2021 was a banner year for ESG (environmental, social, governance) investing, with nearly $650 billion invested into ESG-focused funds worldwide. No one considers...
El Salvador’s Crypto-Bro President Is Flirting with AML Disaster
The speed and haste by which El Salvador adopted Bitcoin as legal tender has opened the door for significant risk and KYC challenges. While the volume of crypto exchanges continues to snowball, the lack of appropriate AML regulation leaves businesses across sectors exposed. El Salvador’s ‘crypto-bro’ president, 40-year-old Nayib Bukele, has made Bitcoin (BTC) the central plank of his economic...
Supreme Court Ruling Likely Dooms Federal Vaccine-or-Test Mandates at Large Businesses. Employment Law Experts Weigh In.
The Supreme Court conservative majority held ranks to temporarily stay an OSHA standard that would have made large employers require their employees get vaccinated or wear a mask and test regularly. In a separate 5-4 decision, the court allowed a similar measure to proceed for workers in the healthcare sector. Employment experts weigh in on implications for businesses.
