IBM develops tools to help clients deal with GDPR

IBM develops tools to help clients deal with GDPR

IBM develops tools to help clients deal with GDPR

IBM Resilient has developed capabilities to help clients prepare for new data rules under the European Union’s General Data Protection Regulation (GDPR), which takes effect in May 2018. IBM said an incident response capability has been established to address the new requirements, explaining that the “GDPR is one of the biggest changes in data privacy law in decades”. IBM said…

An introduction to China’s new cyber security law

An introduction to China’s new cyber security law

An introduction to China’s new cyber security law

On 7 November 2016, the Cybersecurity Law of the People’s Republic of China was enacted and widely heralded as the first comprehensive law dealing specifically and exclusively with cybersecurity issues in China. The law, which will take effect from 1 June 2017, was passed to promote two key objectives: 1) protect the state against cybersecurity attacks; and 2) protect the…

Modern slavery referrals rise in UK supply chains

Modern slavery referrals rise in UK supply chains

Modern slavery referrals rise in UK supply chains

UK companies must do more to ensure their supply chains do not support labour exploitation, said Kroll, after it found that the number of referrals for victims of labour exploitation among UK firms increased by 33% to 1,575 in 2016. The majority of potential victims of labour exploitation in UK supply chains were from Vietnam, where more than 300 cases…

Survey finds UK multinationals surprisingly confident in risky environment

Survey finds UK multinationals surprisingly confident in risky environment

Survey finds UK multinationals surprisingly confident in risky environment

Despite the majority feeling they are operating in a moderate to severe risk environment, UK multinationals are surprisingly confident about their current prospects as they appear acclimatised to uncertainty and are increasingly agile, finds a survey by CNA Hardy. The business confidence and risk perceptions survey of 500 business leaders and risk managers at UK companies with turnover from £5m…

US-EU covered agreement on reinsurance benefits members, says RIMS

US-EU covered agreement on reinsurance benefits members, says RIMS

US-EU covered agreement on reinsurance benefits members, says RIMS

RIMS, the US risk management society, has declared its support for the recently proposed US-EU covered agreement on reinsurance. In a letter to Steven Mnuchin, Secretary of the Treasury, US Department of the Treasury, RIMS president Nowell Seaman cites the covered agreement’s “propensity to benefit RIMS members by eliminating collateral requirements that would result in additional capital, increasing reinsurance capacity,…

International business groups ramp up pressure on China over new cyber law

International business groups ramp up pressure on China over new cyber law

International business groups ramp up pressure on China over new cyber law

International business groups have requested that the Chinese government delay the introduction of its new cyber law planned for 1 June because they believe it could unfairly penalise foreign companies and limit the development of the country’s IT infrastructure in the long run. The new cyber law mandates strict data surveillance and storage for firms that work in China. In…

Business on both sides of Channel form new Brexit supply chains

Business on both sides of Channel form new Brexit supply chains

Business on both sides of Channel form new Brexit supply chains

Businesses in mainland Europe and the UK are actively looking to break links with existing supply chains on the other side of the Channel and form new partnerships in preparation for Brexit, according to a survey of more than 2,100 supply chain managers by the Chartered Institute of Procurement & Supply (CIPS). The survey found that 45% of EU businesses…

CBI calls on government to set up Business Brexit Taskforce

CBI calls on government to set up Business Brexit Taskforce

CBI calls on government to set up Business Brexit Taskforce

UK business has called on its next government to establish a Business Brexit Taskforce within the first 50 days of taking office following the country’s general election on 8 June. Confederation of British Industry (CBI) president Paul Drechsler said government must bring business on board as it opens Brexit negotiations, and warned against freezing out industry. Addressing the CBI Annual…

Change is the new normal

Change is the new normal

Change is the new normal

Legislative reform is a key area of concern for corporates, and risk managers should be aware of the potential for legal change to fundamentally alter the risks that they face, as Max Ebrahim and David Wynn, of Clyde and Co, discuss   Legal systems are subject to political, social, and economic pressures, and once a need for change is identified,…

Sustainability takes centre stage as EU non-financial reporting rules take effect

Sustainability takes centre stage as EU non-financial reporting rules take effect

Sustainability takes centre stage as EU non-financial reporting rules take effect

The issue of sustainability is rising up the corporate agenda and must now be taken more seriously as new European rules mandate non-financial reporting at large companies, according to Anna Rönngard, sustainability standards manager at clothing retail firm H & M Hennes & Mauritz. “Along with other European countries, Sweden recently passed EU laws that require sustainability reporting in your…

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