Banks and investment firms face a multitude of risks - from financial and regulatory to reputational and legal. To address these challenges effectively, institutions must have a comprehensive understanding of not only their internal risks, but also the risks presented by their third-party vendors, suppliers, and clients.
The Federal Reserve has mandated a comprehensive overhaul of compliance and risk management practices at Customers Bancorp, Inc., the parent company of Customers Bank, following the identification of significant deficiencies in the Bank’s anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance. The move comes as the Bank aggressively pursues a digital asset strategy, raising concerns among federal regulators about its preparedness to manage associated risks.
The Securities and Exchange Commission is firmly asserting its authority to require public companies to disclose information about their climate-related risks and greenhouse gas emissions.
The U.S. Department of Justice has reached a settlement with Legends Hospitality Parent Holdings LLC (Legends) following allegations of illegal premerger coordination in connection with its proposed acquisition of ASM Global Inc. (ASM). The settlement, announced on Monday, requires Legends to pay $3.5 million in civil penalties and mandates significant compliance measures to prevent future antitrust violations.
The European Commission has published a comprehensive set of frequently asked questions (FAQs) on August 7, 2024. This initiative aims to provide clarity and reduce administrative burdens for companies navigating the complex landscape of sustainability reporting requirements.
In an era where digital transformation is accelerating at an unprecedented pace, the cybersecurity landscape is evolving just as rapidly. The latest Cost of a Data Breach Report from IBM Security sheds light on the complex challenges organizations face in 2024, revealing both concerning trends and promising solutions.
Deloitte's 2024 "Sustainability Action Report" unveils a landscape of substantial progress in corporate sustainability initiatives, while also highlighting ongoing challenges in data quality and reporting. The report offers a detailed look at how companies are adapting to increased regulatory scrutiny and evolving stakeholder expectations around environmental, social, and governance (ESG) issues.