Compliance Management Best Practices for Public Agencies

Good governance is essential for every organization. And government agencies are no exception to this. Government, regulatory agencies, and public sector companies need to comply with a myriad of regulations. Regulatory compliance comprises the rules and regulations connected to business procedures. When regulatory compliance is disregarded, then it can lead to a lawful penalty and damage in reputation. Some rules and regulations that government agencies must comply with include the Dodd-Frank-Act, the Payment Card Industry Data Security Standard (PCI-DSS),Health Insurance Portability and Accountability Act (HIPAA), and Federal Information Security Management Act (FISMA). Frameworks such as COBIT and NIST, a compliance standard, inform government bodies how to keep pace with regulations.
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The Importance of Risk Assessment for RIAs

The Securities and Exchange Commission has laid down various rules and regulations for registered investment advisors (RIA.s), to prevent fraud and unlawful activities. One of the activities that a RIA must undertake to ensure that they comply with all of SEC's requirements is an internal risk assessment of their firm.
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