What Is the Difference Between a 401(k) Plan Sponsor and a Plan Administrator? Typically, the employer is considered the 401(k) “plan sponsor,” whereas the day-to-day running of the plan may be handled by a third-party “plan administrator.” Understanding the different responsibilities between the plan sponsor and plan administrator is essential to maintain compliance with all … Read more
On February 9, 2022, the SEC voted 3-1 to propose rules that would significantly expand the risk management and reporting requirements concerning cybersecurity and related matters for registered investment companies (RICs), business development companies (BDCs), and investment advisers registered or required to be registered with the SEC (RIAs) The proposed rules would require advisers and … Read more
As noted in the DOL Guidance on Cybersecurity, Plan Sponsors should continuously ask, are my ERISA plan’s assets and participant data protected from cyberattacks?” The Department of Labor’s (DOL) release of cybersecurity best practices for plans covered by the Employee Retirement Income Security Act (ERISA) makes it clear that plan sponsors, service providers, and participants … Read more
The temperature is rising on the quality of cybersecurity risk for registered investment advisors, whether they are in the DOL space or not. In February, the U.S. Securities and Exchange Commission voted to propose two new rules on cybersecurity: rule 206(4)-9 under the Advisers Act and rule 38a-2 under the Investment Company Act. From a high-level perspective, … Read more
Most organizations that will be making strategic and critical business decisions, it is imperative to undertake an extensive due diligence investigation. Due Diligence is defined as, “the care a reasonable person exercises to avoid harm to other persons or their property.” Investigative Due Diligence refers to the research and analysis of an individual or organization done … Read more
Third-Party Vendor Risk Management (VRM) is an important part of the overall risk management landscape for enterprise organizations. Many corporations have thousands of suppliers: The recognized consumer goods company Proctor and Gamble states that it has over 75,000 suppliers. These suppliers are responsible for everything from software to raw materials, components in the product supply … Read more
Vendor Risk Management as a Service West Chester, PA Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research and Vendor Risk Management (VRM) Services, announced today that the company signed a three-year contract to support a US based Insurance client to outsource their Third-Party Vendor Risk Management program. … Read more
It seems that the potential for a major data breach event has organizations prioritizing third-party risk management across the board. But when it comes to evaluating and managing vendors and the potential threats they may present to the enterprise, the risks reach is far beyond IT-related cyber security challenges. The importance of the expansion of … Read more
Company Adds New Financial Risk Scoring & Reporting to Continue Expanding Their Extensive Capabilities West Chester, Pa., April 28, 2022 — Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research and Vendor Risk Management (VRM) Services, announced today that the company has rolled out their new Financial Risk Scoring & … Read more
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