SEC’s Office of Compliance Inspections and Examinations Issues COVID-19 Risk Alert

Lexology reported that “On August 12, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE), issued a risk alert highlighting COVID-19 compliance risks and considerations for broker-dealers and investment advisers. The risk alert highlights six categories of compliance risk: Protection of investors’ assets, Supervision of personnel, Practices relating to fees, expenses, and financial transactions, Investment fraud, Business continuity, and Protection of investor and other sensitive information. Through its exams, operations and outreach efforts with SEC registrants, OCIE has observed the impacts of COVID-19 on registrants and their resulting operational resiliency challenges.” The US Securities and Exchange Commission reported that “market volatility related to COVID-19 may have heightened the risks of misconduct in various areas that the staff believe merit additional attention. This risk alert has been issued with an aim to inform firms and the public generally of these findings.

The Hong Kong Money Authority (HKMA)’s Guidance for banks on Climate Risk Practices

“The Hong Kong Money Authority (HKMA) has recently consulted selected Authorised institutions (AIs) about their approach to climate risk management in the four areas. Some of the key measures adopted by these AIs which are subsidiaries of international banks are noted and have been used as practical guidance in the White Paper”. The HKMA whitepaper explained that using risk management, “AIs are expected to incorporate climate risk considerations into their existing risk management framework.” The HKMA noted, “that advanced AIs aimed to develop a voluntary, consistent climate-related financial risk disclosure framework for firms to report information to stakeholders”[/vc_column_text][/vc_column][/vc_row][vc_hoverbox image=”8369″ primary_title=”Stay updated on the go” hover_title=”Subscribe for our newsletter” hover_btn_title=”Keep me updated” hover_add_button=”true” hover_btn_link=”||target:%20_blank|”]Sign up for risk management, compliance, corporate and background investigations, business intelligence and due diligence related news, solutions, events and publications.[/vc_hoverbox][/vc_column][/vc_row]

Risk and Compliance Management

CRI Group’s ABAC® Center of Excellence helps businesses ensuring compliance and managing risks by offering to achieve certifications for internationally recognised standards such as ISO 31000 and ISO 37301 Compliance Management Systems.
ISO 31000:2018 Risk Management provides principles, framework and a process for managing risk. Public, private and community enterprises can all benefit from ISO 31000:2018 because it covers most business activities, including research, planning, management and communications. Implementing ISO 31000:2018 can help organisations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment.
ISO 19600 is a widely-accepted standard that provides guidance for establishing, developing, implementing, evaluating, maintaining and improving an organisation’s compliance management program. It covers all compliance-related issues including anti-trust, fraud, misconduct, export control, anti-money laundering, and other unexpected risks which might affect your business. The standard acts as a global benchmark for effective and responsive compliance management program, based on the good governance and transparency principles. The guidelines set forth by the standard are applicable to all types and sizes of organisations and aren’t restricted by industry, risk exposure or geographic reach.

Third-Party Risk Management

CRI Group’s own exclusive, expert-developed 3PRM™ services help you proactively mitigate risks from third-party affiliations, protecting your organisation from liability, brand damage and harm to the business. Whether your organisation has a large, well-established third-party program, is in the early stages of development, or is anywhere in between, 3PRM™ solution can improve the health of your program and future-proof your entire business in many forms. Our 3PRM™ solution streamlines the third-party risk management process through scalability, and efficiencies – from third-party risk identification to assessment what sets us apart is that our 3PRM™ solution includes:
From cybersecurity to anti-bribery, our solution is flexible and responsive to the various risk domains that are most important to your business. With a network of trained professionals positioned across five continents, CRI Group’s 3PRM™ services utilise one of the largest multi-national fraud investigation teams the industry has to offer.

Who is CRI Group?

Based in London, CRI Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk ManagementEmployee Background ScreeningBusiness IntelligenceDue DiligenceCompliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.

In 2016, CRI Group launched Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management SystemsISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.

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