How Investment Banks and Brokerage Firms Can Incorporate ESG into Their Investment Strategies

The financial sector has a broad and multifaceted risk management landscape where environmental social governance (ESG) principles reign with great prominence. The newest generation of investors has placed tremendous emphasis on socially-conscious and environmentally conscious companies, with their ESG-friendly governance practices and protocols. The ever-increasing emphasis on environmental and social governance issues has prompted investment […]

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10 Common Pitfalls to Avoid When Implementing Model Risk Management in Financial Services Companies

Financial services companies routinely confront a variety of risk factors, threats, and vulnerabilities as part of their risk management and mitigation efforts. In fact, the financial sector is amongst the most highly targeted by criminals and it’s amongst the most highly regulated in terms of regulatory compliance. Beyond all of this, there is also the […]

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The Benefits of Automating Your Mortgage Firm’s Third-Party Risk Management Processes

Third-party risk management — or TPRM —  is a very real and very significant component of a mortgage firm’s broader risk management and mitigation strategy. Mortgage firms straddle two industries — the real estate industry and the financial space — and both are highly regulated and highly vulnerable to a broad range of risk factors […]

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Why Financial Services Companies Need a Robust Third-Party Risk Management Solution

Financial services companies are amongst the most highly-targeted type of business when it comes to the criminal element, including cybercrime. Businesses operating within the financial space are also highly vulnerable to regulatory compliance-related challenges, which translate into some very serious — and costly — third-party risk management and mitigation issues.  For a financial services company, […]

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How to Budget for Enterprise Risk Management Implementation?

Enterprise risk management software has seen increasing popularity in recent years and for good reason. Many business leaders seriously re-evaluated their company’s risk management strategy amidst the COVID-19 pandemic — an event that laid bare countless vulnerabilities and risk factors. Before the days of the COVID-19 pandemic, these risks, vulnerabilities, and threats were unrealized or […]

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How to Build a Business Case for Implementing Enterprise Risk Management Software?

Enterprise risk management software can be a challenging sell when it comes to convincing company leadership, stakeholders, and other decision-makers to make an investment in this technology. You’re dealing with a threat or vulnerability that, to date, hasn’t caused any major issues and so, there is the hope that the status quo will prevail and […]

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IT Governance and ITIL Framework for Investment Banks and Brokerage Firms

Investment banks and brokerage firms are subject to strict legal and regulatory oversight, which means these companies must implement measures to ensure that their technology meets all of the established guidelines. Enter IT governance and ITIL frameworks for investment banks and brokerage firms. But when it comes to ITIL frameworks and IT governance software solutions, […]

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The Importance of IT Governance in Mergers and Acquisitions for Investment Banks and Brokerage Firms

Brokerage firms and investment banks are subject to strict regulatory oversight and a host of legal requirements. This makes for a rather complex equation when it comes to risk management and IT governance. But things get even more complicated when you add mergers and acquisitions into the mix.  This complex nature leaves many business leaders […]

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How to Measure the Effectiveness of Your Credit Union’s Internal Audit Process

Credit unions — like banks and other financial institutions — are subject to strict regulatory oversight which carries significant reporting and auditing requirements. These regulations are intended to maximize efficiency and improve accountability in an industry that was largely unregulated until the early 2000s when a number of major banks failed.  Regulatory Compliance and Your […]

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Best Practices for Implementing an Effective Operational Risk Management Program for Financial Institutions

Banks and other financial institutions face a slew of risk management challenges, many of which are in-built and inescapable components of their core business model. Unfortunately, this means that there are many threats that can never be fully neutralized and even more vulnerabilities that are impossible to eliminate. What’s more, the financial space is one […]

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How to Choose the Best Financial Services Risk Management Framework

Enterprise risk management can get extremely complex, especially when you are dealing with a frequently-targeted industry such as the financial sector. In fact, financial institutions and companies specializing in financial services are amongst the most targeted businesses, resulting in a multifaceted and complex risk management landscape. Enter the financial services risk management framework, a tool […]

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Streamlining Banking Risk Management: The Benefits of Implementing a Risk Management Software

Of all business sectors and industries, business leaders in the financial sector and banking space are confronted with some of the most complex risk management considerations. Banks, credit unions, lenders, and other financial service providers are frequently targeted by criminals — especially cybercriminals — due to the many areas of vulnerability that exist within banks […]

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How IBM’s OpenPages Helps Visualize Risk Management

IBM’s OpenPages is an artificial intelligence-driven governance, risk, and compliance software platform that’s gaining tremendous popularity amongst companies that are seeking to streamline their risk management activities. The ability to visualize risk management is one of the many features found within the IBM OpenPages platform and it’s these graphical data depictions that are leading to […]

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How Banks Are Using Enterprise Risk Management Systems to Improve Efficiency and Accuracy

Enterprise risk management software platforms are designed to target vulnerabilities, neutralize threats and reduce risk levels. Banks and other financial institutions face a diverse, dynamic range of risk factors and many cannot be fully eliminated or mitigated, although, with the right strategy, they can be effectively minimized and managed. That said, you can also see […]

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How IBM OpenPages User Interface Improves Risk Management

Enterprise risk management is a highly dynamic and complex discipline, with companies investing a significant amount of time, money, and effort into neutralizing threats and mitigating risks. To achieve their risk management objectives, an increasing number of businesses are leveraging tools such as IBM OpenPages.  This artificial intelligence-driven governance, risk, and compliance software platform — […]

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What is Visualization Reporting and How Does it Help Mitigate Risk?

Visualization reporting has gained tremendous popularity in recent years, alongside the rise of big data and analytics technology. An increasing number of business leaders and key decision-makers are leveraging visualization reporting in their efforts to make data-driven decisions.  Whether it’s business strategy development, the creation of a new company-wide marketing plan, or coming up with […]

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How to Spot Compliance Issues Quickly with a Risk Management Dashboard?

Banks and financial institutions confront serious risks on a daily basis, with many of these threats being unavoidable due to the very nature of the banking industry. This underscores the importance of developing a comprehensive risk management strategy that works to mitigate and largely neutralizes threats, bringing them down to a more reasonable and manageable […]

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Can ERM Software Really Help Banks Mitigate Risks?

For generations, banks, credit unions, lenders, and other financial institutions have used a business model that, while profitable, carries a plethora of risks and vulnerabilities. Stated simply, dealing in money makes you a target, leaving an organization highly vulnerable to theft, fraud, and financial loss. Financial institutions must confront these risks on a perpetual basis, […]

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ERM Software for Financial Institutions

Enterprise risk management software (ERM) systems can be a true game changer for banks, credit unions, and other financial institutions, providing mission-critical tools for identifying and addressing the many threats and vulnerabilities that these companies confront.  For the financial sector, effective risk management is a requisite for long-term success. By nature, a bank’s business model […]

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How Can Banks and Credit Unions Mitigate Risks?

Banks, credit unions, financial service providers, and other companies within the financial sector confront a variety of risks and vulnerabilities. Operational risks. Liquidity risks. Market risks. Credit and lending risks. Risks associated with legal and regulatory compliance. Technology and IT-related risks. Cybersecurity risks. Data governance risks. There is no shortage of threats in the financial […]

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Processes that Expose Your Bank to Risk

Banks and other financial institutions such as credit unions, lenders, and financial service providers face a rich and expansive risk landscape. This necessitates the development of a comprehensive risk mitigation strategy that is architected around the banking institution’s unique operational processes, strategies, and procedural processes. But before you can begin developing a winning risk management […]

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Why is Compliance Important for Financial Services?

Companies specializing in financial services are subject to strict regulatory oversight. In fact, aside from the healthcare space, the financial sector is one of the most highly-regulated industries in existence. Compliance is extremely important for financial services providers because non-compliance can spell major trouble, resulting in major monetary fines and even legal penalties.  Compliance and […]

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Mitigating Compliance Risks in the Banking Industry in 2023

The banking industry and the greater financial sector face a host of legal and regulatory compliance risks, with a handful of new threats arising in 2023. Regulatory bodies and organizations involved in financial sector oversight are routinely issuing new directives and imposing new requirements that are designed to elevate bank accountability and improve the industry […]

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How is Digital Transformation Changing Risk Management for Financial Institutions?

Digital transformation accounts for the most significant high-tech movement in the business world, with the COVID-19 pandemic driving the advancement of numerous technologies such as the cloud, communications tech, collaboration platforms, AI, and machine learning, amongst many others. But as with all advancements, there are pitfalls and challenges that must be considered and this is […]

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Everything You Need to Know About Regulatory Reporting for Financial Institutions

Regulatory compliance is a very real concern for financial institutions and other companies within this industry. Subject to some of the world’s most stringent oversight, business leaders in the financial sector must navigate a complex regulatory landscape with numerous requirements for achieving compliance. What’s more, companies that operate within this business space rely upon trust […]

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What are the Top Compliance Concerns for Financial Services?

What are the Top Compliance Concerns for Financial Services?  Financial services providers are subject to stringent regulatory oversight and as such, compliance is a major concern that must be addressed as business leaders develop their organization’s risk management strategies.  To effectively address compliance concerns, financial services providers must have a solid understanding of their regulatory […]

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(How to Avoid the) Complete Breakdown of SOX Compliance Requirements

The Sarbanes-Oxley Act, better known as SOX, was enacted in 2002 thanks to the efforts of congressmen Michael Oxley and Paul Sarbanes. This piece of legislation came on the heels of numerous high-profile scandals in the financial sector. SOX serves to create a sense of accountability and transparency for publicly-traded companies with compliance requirements that […]

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The Cost of SOX Compliance Software vs Non-Compliance Penalties

The 2002 Sarbanes-Oxley Act or SOX has a significant impact on companies in a number of different industries, with compliance-conscious business leaders considering SOX as they formulate their risk management strategies.  SOX compliance is one of the few regulatory requirements with penalties that extend beyond monetary fines to include imprisonment. With so much at stake, […]

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Tips on How to Start Correcting Non-Compliance

Businesses both large and small have focused more of their attention toward risk management since the arrival of the COVID-19 pandemic. In doing so, many discovered great vulnerability in the areas of legal and regulatory compliance.  Heavily-regulated industries such as banking, investment, manufacturing, and healthcare have long had their operations and policies molded by laws […]

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What Are Some of the Consequences for Non-Compliance?

Legal and regulatory non-compliance are an increasingly relevant concern in the business world, with fines and penalties being very significant in some cases. The reality is that the true cost of non-compliance isn’t just monetary penalties, non-compliance consequences may extend beyond the monetary and into other realms such as exclusion from professional organizations or even […]

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How Compliance Software Companies Benefit Financial Institutions

Aside from the healthcare space, the financial sector is one of the most highly-regulated industries, and as such, business leaders are left to consider strategies for effectively achieving and maintaining full regulatory compliance.  There are a broad range of regulatory compliance software companies that offer comprehensive digital solutions for financial institutions (amongst others). But acquiring, […]

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How Compliance Solution Companies Can Help You Overcome Common Compliance Challenges

Legal and regulatory compliance has emerged as an increasingly relevant risk management concern for companies both large and small across all industries and business sectors.  In fact,  2022 saw lots of news coverage of non-compliance incidents involving well-known corporations that were slapped with tremendous fines and penalties totaling in the millions and even billions of […]

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How Environmental Compliance Services Help You Maintain ESG Compliance

Environmental, social and corporate governance — also known as ESG — is a term used to describe an increasingly popular movement in the business and investing world. In fact, it is a movement that has corporate leaders making fairly aggressive changes to their business strategy in an attempt to reduce non-compliance issues, while simultaneously making […]

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Addressing Privacy and Data Challenges with Regulatory Compliance Services

As technological proliferation expands, so too does the amount of data that is generated. Contact forms. eNewsletter subscriptions. This has led to an increasing awareness in the realm of data privacy — a point that has led to the formation of countless laws, rules, and regulations that impact companies across all industries.  Today’s business is […]

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Advantages of Regulatory Compliance Consulting for Banks

Banks and other financial institutions are subject to strict regulatory oversight, with a number of independent and government-based organizations establishing laws and regulations that affect nearly every aspect of daily operations.  Achieving and maintaining regulatory compliance is a major lift in the financial sector, with banks required to closely evaluate and monitor their practices, policies, […]

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Avoiding Compliance Risks With a Compliance Consulting Agency

Recent years have seen a significant rise in the number of regulations that are being issued and enforced by both private and government regulatory organizations. From environmental regulations and personal privacy protections to rules governing how documents and records are handled, these regulations have a broad impact. In fact, virtually every agency is subject to […]

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5 Things That Show You Need Compliance Consulting

Compliance consulting has gained tremendous popularity in recent years amongst businesses both large and small, across all industries and business sectors. As an increasingly important component of an organization’s risk management strategy, more and more business leaders are recognizing the importance of achieving and maintaining compliance both in the legal and regulatory sphere. Many companies […]

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Why the Risk Management Consulting Market is Booming and Why You Should Care

The risk management consulting market has seen a meteoric rise in popularity in recent years. This surge in popularity was largely driven by the COVID-19 pandemic, which prompted many company leaders to realize the true extent of their company’s vulnerabilities. But how does this impact you as a business?  A booming risk management consulting industry […]

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Benefits of Using Top Enterprise Risk Management Service Companies

Business leaders have become increasingly conscious of risk management issues on the heels of the COVID-19 pandemic; an event that drove home the fragility of corporate success. This has prompted many to consider seeking guidance from some of the top enterprise risk management service companies.  But actually finding the right risk management service provider can […]

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Understanding the Role of GRC Consultant During GRC Implementation 

Understanding the Role of GRC Consultant During GRC Implementation  As more and more companies develop an increasing awareness of the issues surrounding governance, risk, and compliance (GRC), we are seeing an increase in the popularity of tools such as GRC software systems. These comprehensive, feature-rich software platforms can include a multitude of integrations and there […]

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Which Type of Risk Managing Software is Right for Your Business?

Risk management practices encompass a very broad scope and aptly so because threats tend to loom at every angle. Risk mitigation is equally complex, especially when it involves individuals from many different company divisions or departments. Identifying risk factors and coordinating an effective response can be tremendously challenging. But there is help and it comes […]

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What’s the Difference: Vendor Risk vs. Third Party Risk vs Supplier Risk Management Software

Recent years have seen a dramatic rise in awareness when it comes to the risk management sphere. In response, software developers identified an opportunity to create risk management software platforms that would aid in vulnerability identification, evaluation and response. Much of this software has been specialized to target one specific type of risk: relationships with […]

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The Complete Guide to Integrated Risk Management Software

Risk management software has evolved into an increasingly-important and rapidly-growing component of today’s modern business strategy. Integrated risk management — also termed IRM — is one aspect of an organization’s broader risk management strategy. Yet it’s rather difficult to formulate and initiate IRM initiatives due to the very broad and comprehensive nature of integrated risk […]

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IT Compliance Software: Understanding Its Purpose and Benefits

IT compliance software — also called IT regulatory compliance software — has gained a great deal of popularity in recent years as companies become increasingly aware of their technology-specific regulatory requirements. In fact, many now regard IT compliance as a critical component of a company’s risk management strategy. The tools in an IT compliance software […]

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What Types of Business Need Regulatory Compliance Management Software?

Regulatory compliance management is a key component of a company’s overall risk mitigation strategy. But managing an organization’s many compliance burdens can get complicated and overwhelming in very short order. This is especially true for those in the healthcare space, the financial sector and other heavily-regulated industries. Enter: regulatory compliance management software. Virtually every company […]

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What Should I Look for in Compliance Software Vendors?

Compliance software platforms are playing an increasingly important role in companies’ risk management strategies. Recent years have seen a surge in the number of businesses that are seeking compliance management software solutions. This is, in large part, due to the ever-increasing number of regulations that are impacting companies in a variety of business sectors. Recent […]

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Using Compliance Management Software to Keep Up With Constant Changes in Compliance Regulations

The regulatory compliance landscape is constantly changing and evolving, with new laws and regulations perpetually being developed. Existing regulations are often modified too, adding yet another element of complexity to the equation. Certain industries and business sectors — namely, the financial sector, the tech sector, manufacturers, and the health care industry — are subject to […]

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How to Choose the Best Risk Management Software Vendors for Your Business

A well-architected risk management and mitigation strategy will usually fall woefully short of expectations if you lack the right tools. Enter: the risk management software solution.These software platforms are equipped with a variety of features and functionalities to help companies identify, evaluate, monitor, and take action when risks and vulnerabilities are identified. Many risk management […]

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Why Your Enterprise Risk Management Software Should Incorporate Artificial Intelligence

In recent years, the business world has collectively honed their focus on risk management, with more and more companies realizing the importance of a well-developed risk management strategy. The reason for this shift is largely rooted in the COVID-19 pandemic, which prompted many companies to revise and re-examine their operations. Others are subject to stringent […]

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Digital Transformation and How it Affects Data Compliance

Digital transformation is probably among the most-heard terms in today’s technology lexicon and for good reason. We are in an age of fast-evolving and rapidly-advancing technology that holds the potential to profoundly transform an organization’s operations. But what constitutes digital transformation? And how does it affect data compliance? These are important questions because data compliance […]

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How to Use Compliance Software to Make Your Business Stronger

Compliance software offers an extremely useful toolset, providing companies with the framework they need to achieve and maintain compliance, whether it is regulatory compliance or legal compliance. An increasing number of companies are turning to these software platforms as the collective awareness surrounding compliance increases beyond the most heavily-regulated fields such as health care and […]

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How Risk Management Services Can Help You With Data Governance

Risk management is a critical component of any good business strategy, especially in today’s technology-centric society, where many risks surround digital assets such as a company’s data. In fact, data represents a major source of risk for most businesses. Fortunately, though, risk management services can help promote more effective data governance practices. Risk management efforts […]

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5 Key Things to Look for in Operational Risk Management Software

Operational risk management is critical for today’s most competitive companies, especially those with particularly unique or complex operations. This risk can arise from many sources, such as inefficient processes, equipment or systems, external events, and employee actions/inactions. Operational risk management software can play an instrumental role in a company’s broader enterprise risk mitigation strategy. But […]

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Why Risk Management Software is Critical to Business Growth

In a competitive, fast-paced business world, effective risk management is critical for growth and long-term success. This is true regardless of industry, business size or perceived vulnerability. But to see the maximum benefit, you need a comprehensive risk management strategy, along with the resources to implement mitigation measures. Enter: risk management software. The right risk […]

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GRC Software Pricing – Everything You Need to Know

As governance, risk management, and compliance (GRC) becomes an increasingly prominent part of many companies’ overall business strategy, more organizations are seeking out tools to aid in their efforts. Enter: GRC software systems. GRC software can successfully streamline and centralize a company’s GRC-related efforts, providing a wide variety of useful features, tools, and functionalities. But […]

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GRC Decisions That Are Guaranteed to Backfire

An increasing number of companies are integrating governance, risk management, and compliance (GRC) principles into their overarching business strategies. But many organizations lack real practical experience when it comes to implementing a GRC framework, resulting in the potential for some major snafus. Unfortunately, many organizations underestimate the complexity of GRC frameworks. Let’s explore a few […]

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What is GRC Software? – Benefits and How it Works

Governance, risk, and compliance (GRC) management is an increasingly common concern amongst companies of all sizes, particularly at the enterprise level where monitoring and compliance-related actions tend to be the most aggressive. Publicly-traded companies, in particular, experience a tremendous burden when it comes to meeting the various compliance and risk standards for their industry or […]

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ESG vs Sustainability

Recent years have seen a dramatic increase in corporate eco-consciousness — a trend that has been mirrored at virtually every level of society as well. The data supports this idea too. According to an October 2021 study, 69% of respondents said they were actively doing everything within their control to minimize their carbon footprint. That […]

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How to Manage ESG Compliance

Environmental, Social, and Governance (ESG) is becoming an increasingly critical component of the modern company’s business strategy. In fact, ESG-related reports are now deemed mandatory by the U.S. Securities and Exchange Commission (SEC) — the agency that initially developed the ESG criteria. The SEC has even developed a task force to address cases of non-compliance. […]

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Understanding ESG Governance

In today’s eco-conscious world, sustainability matters. It matters to all stakeholders from employees to clients along with investors and everyone else in between. In fact, recent years have seen a distinct movement toward sustainable investments. This, in turn, prompted the U.S. Securities and Exchange Commission (SEC) to develop the Environmental, Social, and Governance (ESG) criteria […]

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Why the SEC’s New ESG Task Force Makes Managing ESG RIsks Even More Important

The U.S. Securities and Exchange Commission (SEC) and the Environmental, Social, and Governance (ESG) Division of Enforcement announced that they would be creating a 22-person task force composed of members from the federal organization’s regional offices, headquarters and “specialized units.” The task force’s objective is to monitor climate- and ESG-related issues and companies’ compliance with […]

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