More than a hot topic among business leaders, ESG initiatives provide a comprehensive way for organizations to report and deliver on their commitments in the areas of environmental, social, and corporate governance. Regulators, investors, consumers, and employees alike are increasingly focused on the ethics and sustainability of organizations’ business practices. Stakeholders seeking ESG information want more than “commitments” and “drives”; they’re looking for comparable data and evidence of action on the organization’s part. This…
Each month, Quantivate provides our blog readers with access to the top attorney-generated compliance alert our customers receive. While there were 25 alerts and advisories in June, the largest to be aware of is that the Federal Reserve Board (FRB) issued a final rule on the collection of checks and fund transfers through Fedwire that will take effect in the first quarter following its publication in the Federal Register. Executive Summary On May 19,…
Establishing an effective governance, risk, and compliance (GRC) program can be a difficult task. Developing an enterprise-wide approach that encompasses third-party relationships adds even more complexity. Given the prevalence of vendor cybersecurity and supply chain issues, many organizations are recognizing the value of investing in a mature, comprehensive GRC program for properly managing third-party relationships and mitigating risks or compliance violations. Integrating Third-Party GRC A mature third-party governance program requires transparency and control over…
Each month, Quantivate provides our blog readers with access to the top attorney-generated compliance alert our customers receive. While there were 22 alerts and advisories to be aware of in April, the most pressing is that the Office of the Comptroller of the Currency (OCC) issued its final rule amending suspicious activity report (SAR) regulations. Executive Summary On March 28, 2022, the OCC issued a final rule amending SAR regulations. The rule clarifies the…
Data privacy has been a hot topic for businesses and regulators over the past six months, with several states passing legislation improving protections for consumers’ personal data. Utah has followed suit, with the state legislature passing the Utah Consumer Privacy Act (UCPA) on March 3, 2022, which will now move along to the governor for final approval. The UCPA draws influence from other state privacy acts, such as the California Privacy Rights Act and…