Risk Management

“The arrest of promoter was a material event and that was to be disclosed to the stock exchanges. That was not done by Britannia,” Subramanian told PTI.

This is a violation of LODR by the company, he said, adding Wadia must step down in the interest of larger corporate governance.

Cybersecurity Costing Large Financial Firms $3,000 Per Employee: Survey

May 2, 2019 | International News, Risk Management

Some of the largest banks tripled cyber-defense budgets in the last three to four years amid a surge of attacks on client information, accounts and other data. The finance sector was the focus of 19 percent of all attacks monitored by International Business Machines Corp. last year, the technology firm said in a February report. Spending more on security doesn’t necessarily translate to better defenses, Deloitte said.

Stephen Catlin launches a specialty entity for complex risks,invests $1.8bn capital

May 1, 2019 | International News, Non-Life, Reinsurance, Risk Management

Stephen Catlin said: “The launch of Convex distils vast industry experience and client focus to create the insurance company of the future. We begin unencumbered by legacy but rich with expertise and the strength of independence. There is evidence of pricing momentum in many classes and we are well equipped to prosper in a challenging market. We are thrilled to have the support of Onex and our co-investors and believe they will be valuable partners to us as we build our business.

Privacy practices probe could cost facebook up to $5 billion

Apr 29, 2019 | International News, Risk Management, Technology

Under the terms of the 2011 settlement with the US Federal Trade CommissionC, Facebook agreed to get user consent for certain changes to privacy settings. The agreement stemmed from claims that it deceived consumers and forced them to share more personal information than they intended. That complaint arose after the company changed some user settings without notifying its customers.

Data and alternative risk finance methods are boosters for risk managers:Report

Apr 29, 2019 | International News, Risk Management, Technology

“By effectively marshalling data and risk modeling tools, organizations can better understand changes in their risk profiles and risk bearing capacity allowing them to access the opportunities presented by the growing levels of capital available for risk finance,” said Brian Elowe, North American Chief Client Officer, Marsh.

S&P and Fitch warn UK rating still at risk from a no-deal Brexit

Apr 28, 2019 | Eco/Invest/Demography, International News, Risk Management

The delay averted the risk of an immediate no-deal Brexit which would deliver a shock to the world’s fifth-biggest economy but the uncertainty remains, weighing on many companies which have cut back on investment

Regulator orders J&J to stop using raw material to make Baby Powder in India

Apr 28, 2019 | Health, Indian News, Risk Management

“We have confirmed to the Indian authorities that we do not add Formaldehyde as an ingredient in our shampoo nor does Johnson’s baby shampoo contain any ingredient that can release formaldehyde over time. Our products are safe to use and conform to all applicable standard under the D&C (Drugs and Cosmetics) Act and D&C rules,” it said.

IL&FS case: Govt likely to ban Deloitte for 5 yrs for alleged malpractice

Apr 28, 2019 | Indian News, Risk Management

In January, 2018, nine years after the Satyam scandal stunned corporate India, SEBI banned Price Waterhouse (PW) from providing audit services to listed companies and market intermediaries for two years in the Satyam fraud. Two PW partners were banned for three years. The regulator also imposed a disgorgement of Rs 130.9 million on Price Waterhouse, and two of its chartered accountants – S Gopalakrishnan and Srinivas Talluri.

Alphabet’s wing is first commercial Drone Unit certified as Airline

Apr 28, 2019 | International News, Policy, Regulation, Risk Management, Technology

“It’s an exciting moment for us to have earned the FAA’s approval to actually run a business with our technology,” Wing Chief Executive Officer James Ryan Burgess said in an interview. He called it “pivotal” both for his company and the drone industry in general.