Third-Party & Supply Chain

Agencies Issue Guide to Help Community Banks Manage Third-Party Risks

The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Federal Reserve Board have issued new guidance to assist community banks in developing and implementing effective third-party risk management practices.

EU Parliament Passes CSDDD

The European Parliament has voted to approve a new law aimed at promoting corporate responsibility and accountability across global supply chains. The Corporate Sustainability Due Diligence Directive (CSDDD) will legally require large companies operating in the EU to identify and prevent environmental and human rights abuses throughout their operations and value chains.

U.S. & UK Collaborate to Curb Russian Metal Imports

In a joint effort to disrupt Russia's earnings from the export of metals, the United States Department of the Treasury, in collaboration with the United Kingdom, has introduced two significant measures aimed at limiting the flow of Russian-origin aluminum, copper, and nickel.

European Supervisory Authorities Initiate Recruitment for Joint Oversight Team to Implement Digital Operational Resilience Act

The European Supervisory Authorities (ESAs), comprising the European Banking Authority (EBA), the European Insurance and Occupational Pension Authority (EIOPA), and the European Securities and Markets Authority (ESMA), have commenced recruitment processes for the establishment of a joint oversight team as mandated by the Digital Operational Resilience Act (DORA).

Baltimore Bridge Collapse: Assessing Supply Chain Vulnerabilities

In the wake of the devastating collision between the container ship Dali and the Francis Scott Key Bridge in Baltimore on Tuesday morning, supply chain and third-party risk specialists are closely examining the ramifications of this incident on global trade networks. As experts in identifying and mitigating vulnerabilities within supply chains, they underscore the critical role played by ports like Baltimore and the far-reaching consequences of disruptions in such key nodes.

FTC Releases Report on Grocery Supply Chain Disruptions

In response to the ongoing repercussions of the COVID-19 pandemic on the grocery supply chain, the Federal Trade Commission (FTC) has unveiled a comprehensive report shedding light on the causes and consequences of disruptions within the industry. The report, released today, reveals a stark reality: major market players accelerated and distorted the adverse effects of supply chain disruptions, impacting consumers and smaller businesses disproportionately.

Revised Version of CSDDD Obtained Ahead of EU Parliament Vote

European Parliament Member Axel Voss (EPP, DE) has taken to LinkedIn to circulate the revised version of the CSDDD, ahead of its imminent presentation to the EU Parliament for approval.