Third-Party Risk Is Becoming a Primary Challenge to Further Reduce the Extended Enterprise Risk

Today organizations in all market segments increasingly rely on an assortment of third-party vendors, suppliers, and partners. We are all aware of the continued growth of the extended enterprise – companies relying on a network of third-party vendors to provide them with organizational services, products, and competitive advantage. Over the past few years, the use … Read more

Cybersecurity and Resiliency Observations – SEC Office of Compliance Inspections and Examinations

Today, Cybersecurity risks originate from many sources, both domestic and from international regions. Most importantly, these cybersecurity risks occur across the array of securities and financial markets. The seriousness of the threats and the heightened concerns to investors, issuers, and other securities market participants, and the financial markets and economy more generally, are considerable and … Read more

SEC’s Proposed Cybersecurity Rules for RIAs, RICs, and BDCs

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

DOL Guidance on Cybersecurity: Outline Overview for Plan Sponsors

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

DOL, SEC Cybersecurity Regulations: Divergence or Convergence?

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

The Benefits of Implementing Investigative Due Diligence Research to an Organization’s Supply Chain Vendor Management Program Initiatives

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

Organizational Strategies To Manage Third-Party Vendor Risk

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

Modevity Signs National Property and Casualty Insurance Company For Its Vendor Risk Management (VRM) Services

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

Expanding Scope of Vendor Risk Management Services Throughout the Enterprise

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

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