All articles by Adrianne Appel – Page 11
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News BriefMorgan Stanley settles with states for $6.5M over mishandled data
Morgan Stanley agreed to pay $6.5 million as part of a settlement with six states requiring the firm to strengthen its data security after actions it took compromised the personal data of millions of customers.
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News BriefNursing home chain, owner to pay $45.6M in kickbacks case
Prema Thekkek and the six skilled nursing homes she owned through her company, Paksn, agreed to pay $45.6 million in entering a consent judgment with the Department of Justice to resolve allegations employees paid kickbacks to doctors who brought patients to them.
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News BriefN.Y. hospitals face stiff cybersecurity requirements under proposed rules
New York hospitals would be required to have a cybersecurity program that includes regular cyber risk assessments under newly proposed regulations.
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PremiumA job never done: Tips for TPRM integration
Taking risk mitigation further and understanding your third parties and their risks can create value for your organization, practitioners discussed as part of a panel at CW’s virtual TPRM and Oversight Summit.
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News BriefHHS publishes updated healthcare compliance guidance
New guidance from the Department of Health and Human Services is designed to apply generally to the healthcare industry, from doctors to pharmaceutical manufacturers, and help all such entities self-monitor their compliance and prevent waste, fraud, and abuse.
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PremiumCrisis management: Know the facts, keep communications clear
A panel of legal experts breaks down how to handle an all-out crisis, from whom to involve, what to disclose to regulators, and how to conduct a proper investigation.
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PremiumBiden AI executive order tips hand on areas of regulation focus
It’s all hands on deck at the White House to put into motion the dozens of directives in President Joe Biden’s executive order on artificial intelligence, according to Nik Marda, chief of staff for the Technology Division in the Office of Science and Technology Policy.
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News BriefSEC charges president, CCO of Prophecy Asset Management with fraud
The president and chief compliance officer of investment adviser Prophecy Asset Management misled investors about more than $350 million in losses while pocketing millions in management and incentive fees, according to the Securities and Exchange Commission.
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News BriefAmended N.Y. cyber regs up pressure on financial firms to combat risks
New York will require financial institutions to conduct risk assessments more often and improve governance under a broad update to the state’s cybersecurity regulations.
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PremiumSEC’s Grewal calls for more self-policing in reflecting on FY23 cases
Businesses must step up their internal policing and do a better job of reporting violations to the Securities and Exchange Commission, according to Gurbir Grewal, director of the agency’s Enforcement Division.
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News BriefBiden executive order aims to cut AI risk while boosting safe use
Companies that design powerful artificial intelligence systems must perform safety tests on the programs and share results with the U.S. government under a sweeping executive order intended to make AI safe while furthering robust innovation.
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PremiumSurvey: Risk chiefs feeling pressure from growing compliance mandates
Mounting compliance requirements and technological innovations have chief risk officers facing more complex risk environments, according to a KPMG survey.
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PremiumRisk models show finance, real estate most likely to face costly cyber events
The finance and real estate industries are at higher risk of experiencing a high-cost material cybersecurity incident, compared to other sectors, according to new research from risk modeling firm Kovrr based off data from U.S. Fortune 1,000 companies.
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PremiumExpert: SEC’s view on Prager Metis indemnity clauses ‘problematic’
Audit firms should carefully weigh the pros and cons of indemnity clauses in light of the Securities and Exchange Commission’s recent complaint against Prager Metis, according to a legal expert.
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PremiumExpert: How data hoarding increases businesses’ cyber risks
Holding on to data for longer than necessary creates vulnerabilities for businesses by giving cyberattackers more avenues to access an organization’s computer systems.
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PremiumExpert: Clorox ‘trying to do the right thing’ with rapid cyberattack disclosures
The timing of a recent cyberattack against Clorox juxtaposed against the Securities and Exchange Commission’s adoption of its cybersecurity incident disclosure rule soon to take effect has presented a case study regarding how companies might seek to meet the requirements of the rule.
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PremiumNIST framework might help organizations prepare for AI regulations
The new artificial intelligence framework released by the National Institute of Standards and Technology is not a checklist for AI but might help organizations better manage the risks associated with the technology.
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News BriefSEC accuses Prager Metis of hundreds of auditor independence violations
Accounting firm Prager Metis violated auditor independence rules through use of indemnification provisions in its engagement letters hundreds of times during a period of nearly three years, the Securities and Exchange Commission charged in a lawsuit.
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News BriefNewell, ex-CEO settle with SEC over sales disclosures
Consumer products company Newell Brands agreed to pay $12.5 million as part of a settlement with the Securities and Exchange Commission addressing allegations the company misled investors about its core sales growth.
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PremiumAssessing the value of COSO sustainability reporting guidance
Companies that haven’t yet set up verifiable reporting in their sustainability programs have a ready reference available in the framework put out by the Committee of Sponsoring Organizations of the Treadway Commission, experts discussed at CW’s virtual ESG Summit.