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=”url:https%3A%2F%2Fwww.crigroup.com%2Fnewsletter-subscription%2F||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

Third-Party Risk Management

• Due Diligence
• Screening & background checks
• Business intelligence: information management
• Investigations: i.e. IP, fraud, conflict of interest, etc
• Regulatory compliance
• Anti-bribery and anti-corruption (ABAC) compliance
• Employee auditing training & education
• Monitoring & reporting

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 Management, Employee Background Screening, Business Intelligence, Due Diligence, Compliance 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 Systems, ISO 19600:2014 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.

Filed under: 3PRM, Compliance Solutions, Due diligence, Insights by admin
No Comments »