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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-06-07T19:54:00
A new report by KPMG on key regulatory challenges for the second half of 2023 warned financial institutions to prepare for increased scrutiny, while all companies should expect more questions on how they oversee their cybersecurity and data management programs.
The report, released Wednesday, said all financial services regulators will likely increase their supervisory intensity over the next six months. The report advised financial institutions to expect regulators will increase their demands as they review a firm’s “risk management and controls, data quality and processes, and management/board accountability.”
Amy Matsuo, principal and national leader, compliance transformation and regulatory insights at KPMG, said firms should “expect regulators to increase supervisory intensity around scope, exam findings, and resolution times for financial services entities of all sizes and levels of complexity.”
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News and analysis for the well-informed compliance or audit exec.
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2023-06-15T14:56:00Z By Kyle Brasseur
Banks should still be on guard despite relative calm in the industry compared to where things were three months ago following the collapse of Silicon Valley Bank, the Office of the Comptroller of the Currency warned.
2023-05-19T17:33:00Z By Aaron Nicodemus
Leaders at Silicon Valley Bank, Signature Bank, and the regulators who seized their banks testified before Congress across separate hearings.
2023-05-03T17:27:00Z By Aaron Nicodemus
A new KPMG survey of chief compliance officers at Fortune 500 companies found nearly three out of every four expect to enhance their compliance functions in response to pressure from regulators and their own boards.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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