#legal and regulatory risks

[shielfc]

Specialized Risk Identification Team | Risk And Compliance

According to the "Two Horizon Model" horizon scanning requires the internal creation of a specialized risk identification team tasked with translating legal and regulatory risks in response to every new global regulatory change. Check out this infographic and visit our website to gather more information on risk management compliance. Visit: https://bit.ly/3Q1LHIe

#operational risk management #risk management compliance #risk compliance #security and compliance #risk and compliance #legal and regulatory risks

[freshpresss]

Geetle.com : une arnaque trading d’après les investisseurs

Alors que la crypto-monnaie a gagné en popularité ces dernières années, elle a attiré un nombre croissant d’investisseurs désireux de capitaliser sur cette nouvelle frontière financière. Cependant, ce regain d’intérêt pour les crypto-monnaies a également entraîné une augmentation inquiétante des escroqueries en ligne. Parmi ceux-ci, le site geetle.com est devenu une source d'inquiétude majeure pour les investisseurs français, avec plusieurs plaintes et inquiétudes soulevées. Il est donc crucial d’examiner cette situation.

Décrypter la plateforme

Geetle.com a été créé il y a près de trois ans. Cependant, malgré sa longévité, la prudence est de mise. Même si une longue expérience peut souvent être un gage de fiabilité, ce n'est pas toujours le cas. Parfois, les fraudeurs acquièrent des domaines abandonnés pour renforcer leur crédibilité à moindre coût, une stratégie fréquemment utilisée dans les escroqueries sophistiquées.

Le site attire les investisseurs avec des promesses de fortune grâce au trading. Cependant, il est important de noter qu’une grande majorité d’investisseurs particuliers qui s’aventurent dans le trading finissent par perdre leur argent. Selon une étude de l'Autorité des marchés financiers publiée en 2014, 90 % des commerçants de détail perdent leur argent, un fait particulièrement alarmant si l'on considère que ces résultats sont issus de données fournies par des courtiers réglementés au sein de l'Union européenne.

La situation peut être encore plus préoccupante lorsqu’il s’agit de courtiers non réglementés ou réglementés dans des environnements réglementaires laxistes. Ces plateformes ont souvent une durée de vie éphémère et peuvent disparaître aussi vite qu’elles apparaissent, laissant dans leur sillage les investisseurs fraudés.

Un autre sujet d'inquiétude est l'absence totale d'informations juridiques sur geetle.com, ne laissant aucune trace de son existence légale. Ceci est crucial pour comprendre les procédures spécifiques de la plateforme. Sans ces informations, il est difficile de connaître les représentants de cette organisation et son cadre juridique.

Geetle.com fonctionne sans réglementation, ce qui augmente considérablement le risque. Même si une entité inscrite sur une liste noire émise par un organisme de surveillance financière confirme qu'il s'agit d'une arnaque, l'absence d'une telle inscription ne signifie pas nécessairement qu'il ne s'agit pas d'une arnaque. Les listes noires ne sont jamais exhaustives ni définitives.

Demander une assistance juridique

Si vous pensez avoir été victime d'une arnaque commerciale, il est conseillé de consulter un avocat spécialisé en fraude financière. Un avocat expérimenté dans ce domaine peut vous offrir des conseils juridiques personnalisés et vous guider sur les mesures à prendre pour récupérer votre argent ou engager une procédure judiciaire.

Il est essentiel de rester vigilant et de faire preuve de prudence face aux opportunités d'investissement. Effectuez des recherches approfondies sur l'entreprise ou la personne proposant l'investissement, consultez des professionnels de confiance et n'investissez jamais d'argent que vous ne pouvez pas vous permettre de perdre. Si quelque chose semble trop beau pour être vrai, il est préférable de s’abstenir et de demander des opinions indépendantes avant de prendre une décision.

Au cours des dernières années, la cryptomonnaie a gagné en popularité, attirant de plus en plus d’investisseurs désireux de tirer profit de ce nouvel espace financier. Cependant, cette explosion de l’intérêt pour les cryptomonnaies a également donné lieu à une augmentation alarmante des arnaques en ligne. Parmi celles-ci, le site geetle.com est devenu une source d’inquiétude majeure pour les investisseurs français. Cette plateforme fait l'objet de plusieurs plaintes et inquiétudes de la part des investisseurs. Nous avons donc décidé de nous pencher sur cette situation.

Décryptage de la plateforme Geetle.com a été créé il y a près de trois ans, mais malgré cette ancienneté, il convient de rester vigilant. Si une longue durée d'existence peut souvent être un signe de fiabilité, ce n'est pas toujours le cas. Parfois, des escrocs rachètent des domaines abandonnés pour se forger une crédibilité à peu de frais, une stratégie souvent utilisée dans des escroqueries sophistiquées.

Le site propose aux investisseurs de faire fortune en devenant trader. Toutefois, il est important de noter qu'une grande majorité des investisseurs particuliers qui s'aventurent dans le trading finissent par perdre leur argent. Selon une étude de l'Autorité des Marchés Financiers publiée en 2014, 90% des traders particuliers perdent leur argent, un fait encore plus alarmant lorsque l'on sait que ces résultats ont été obtenus à partir de données fournies par des courtiers régulés au sein de l'Union européenne.

La situation peut être encore plus préoccupante lorsque l'on s'aventure avec des courtiers non régulés ou régulés dans des paradis fiscaux à la législation laxiste. Ces plateformes ont souvent une durée de vie éphémère et peuvent disparaître aussi vite qu'elles sont apparues, laissant derrière elles des investisseurs spoliés.

Un autre point d'inquiétude est l'absence totale de mentions légales sur le site de geetle.com, ne laissant aucune trace de son existence légale. C'est un point clé pour comprendre les procédures spécifiques à la plateforme. En l'absence de ces informations, il est difficile de connaître les représentants de cette organisation et son cadre juridique.

Geetle.com fonctionne sans régulation, un élément qui augmente considérablement le risque. Si une entité figure sur une liste noire émise par un organisme de surveillance financier, il est certain qu'il s'agit d'une arnaque. Mais le fait qu'une entité ne figure pas (encore) sur une de ces listes noires ne signifie pas nécessairement qu'elle n'est pas une arnaque. Les listes noires ne sont jamais exhaustives ou définitives.

Faire appel à un avocat spécialisé Si vous pensez être victime d'une arnaque trading, il est conseillé de prendre rendez-vous avec un avocat spécialisé dans les fraudes financières. Un avocat expérimenté dans ce domaine sera en mesure de vous fournir des conseils juridiques personnalisés et de vous guider sur les mesures à prendre pour récupérer votre argent ou engager des poursuites judiciaires.

Il est essentiel de rester vigilant et de faire preuve de prudence lorsqu'on est confronté à des opportunités d'investissement. Il est recommandé de faire des recherches approfondies sur l'entreprise ou l'individu proposant l'investissement, de consulter des professionnels de confiance et de ne jamais investir des sommes d'argent que vous ne pouvez pas vous permettre de perdre. Si quelque chose semble trop beau pour être vrai, il est préférable de s'abstenir et de rechercher des avis indépendants avant de prendre toute décision.

#Cryptocurrency #Online Scams #Geetle.com #Investment Risks #Trading Scams #Financial Fraud #Investor Protection #Regulatory Compliance #Legal Assistance #Due Diligence

[constructionsafetynetwork]

Safety Non-Compliance Consequences

The concept of safety non-compliance consequences is critical in the construction industry, where the line between safe operations and hazardous conditions can be thin. This article delves into the implications of not adhering to safety regulations and why prioritizing compliance is not just a regulatory requirement but a necessity for protecting workers, sustaining operations, and maintaining…

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#Construction Safety #financial implications #legal consequences #project management #regulatory compliance #Risk Mitigation #safety management #safety non-compliance #safety protocols #workplace accidents

[panchitacarmensita]

How Corporate Secretary Helps Compliance with Changing Laws

In the ever-evolving business world, the role of a Corporate Secretary is increasingly significant, especially when it comes to compliance with changing laws. This holds particularly true in dynamic business environments like Hong Kong, where legal and regulatory landscapes are in constant flux.

At the forefront of their responsibilities, Corporate Secretaries in Hong Kong ensure that companies adhere to current laws and regulations. Their expertise lies in interpreting legal mandates and translating them into actionable corporate policies. This role is crucial as non-compliance can lead to severe legal consequences and reputational damage.

Corporate Secretaries also play a vital role in monitoring and anticipating changes in legislation. Their ability to foresee potential legal shifts and prepare the company accordingly is invaluable. They keep a close eye on developments in corporate law, financial regulations, and other relevant legal areas, ensuring that the company is always a step ahead.

In addition to keeping the company compliant, Corporate Secretaries serve as the bridge between the company and regulatory authorities. They maintain open channels of communication, ensuring that any changes in laws are understood and implemented effectively. This role is particularly challenging in a diverse market like Hong Kong, where laws might be influenced by both local and international factors.

Corporate Secretaries also have the crucial task of educating and advising the company's board of directors and management. They provide insights on how legal changes impact the company's operations and strategic direction. This involves not only understanding the letter of the law but also grasping its practical implications for the business.

Moreover, Corporate Secretaries contribute to risk management strategies. By identifying areas where legal changes could pose risks, they help the company to mitigate potential legal and compliance risks. This foresight is essential in maintaining the integrity and reputation of the business.

Finally, Corporate Secretaries are instrumental in implementing and updating compliance programs. They ensure that all aspects of the company's operations align with the latest legal requirements. This includes revising internal policies, conducting training sessions, and ensuring that all employees understand their compliance obligations.

In conclusion, the Corporate Secretary's role in ensuring compliance with changing laws is multifaceted and indispensable, particularly in a complex and rapidly changing legal environment like Hong Kong's. Their expertise not only safeguards the company against legal pitfalls but also positions it to navigate the legal landscape proactively and strategically.

#Corporate Secretary Legal Compliance #Regulatory Change Management HK #Corporate Governance Adaptation #Legal Updates in Hong Kong Business #Risk Management Corporate Secretary #Corporate Policy Implementation HK #Board of Directors Legal Advising #Compliance Strategy in Corporations #Corporate Secretary Training Programs #Legal Communication and Interpretation

[darkautomaton]

Corporate Secretary in navigating legal and regulatory frameworks in Corporate Hong Kong

In the bustling corporate landscape of Hong Kong, the Corporate Secretary emerges as a pivotal figure. This professional's expertise lies in guiding companies through the complex maze of legal and regulatory requirements. In Hong Kong, a global financial hub, the importance of this role is magnified due to the stringent regulatory environment.

The Corporate Secretary ensures compliance with statutory and regulatory obligations, a critical task in Hong Kong's dynamic business environment. They are the custodians of corporate governance, ensuring that the company's operations align with legal standards and ethical norms. Their role extends beyond mere compliance; they also provide valuable counsel to the board of directors, influencing strategic decisions.

Advising on corporate governance is another key aspect of the Corporate Secretary's role. They stay abreast of changes in laws and regulations, ensuring that the company adapts swiftly to new requirements. This includes overseeing corporate policies, managing risk, and ensuring that the board's decisions are implemented effectively and legally.

In the realm of shareholder engagement, the Corporate Secretary plays a crucial role. They facilitate communication between the board and shareholders, ensuring transparency and fostering trust. This includes organizing annual general meetings, managing shareholder queries, and maintaining shareholder records. Their role is vital in enhancing investor relations and protecting shareholder interests.

Moreover, the Corporate Secretary is instrumental in corporate transactions. They oversee due diligence processes, manage regulatory filings, and ensure that all corporate actions are in compliance with legal requirements. Whether it's mergers, acquisitions, or divestitures, their expertise is indispensable in navigating these complex transactions smoothly.

In conclusion, the Corporate Secretary in Hong Kong is a linchpin in ensuring that companies navigate the legal and regulatory frameworks effectively. Their role is multifaceted, encompassing compliance, governance, shareholder relations, and transactional support. As Hong Kong continues to evolve as a global financial center, the importance of the Corporate Secretary in steering companies through this landscape cannot be overstated.

#Corporate Governance Hong Kong #Legal Compliance in HK Businesses #Regulatory Frameworks HK #Corporate Secretary Roles #HK Corporate Law #Shareholder Engagement Hong Kong #Corporate Transactions HK #Board of Directors Advisory HK #Hong Kong Financial Regulations #Corporate Risk Management HK

[howdoesone]

How does one navigate the legal and regulatory frameworks specific to a region in architectural projects?

Navigating the legal and regulatory frameworks specific to a region is a crucial aspect of architectural projects. Architects and design professionals need to understand and comply with the legal requirements, building codes, and regulations that govern the construction industry in a particular region. This article explores the significance of navigating the legal and regulatory frameworks in…

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#Accountability #architectural projects #complex regulations #compliance #compliance cost #comprehensive research #consultants and specialists #documentation and records management #interdisciplinary collaboration #legal and regulatory experts #legal and regulatory frameworks #local authorities #public interest #regional variations #risk management #safety #streamlined processes #time constraints

[normal-horoscopes]

Conditional financial clairvoyance was a difficult thing for the market to adapt to. How does one regulate a market that exists with a circular relationship to time? How does one regulate and punish fraud before it can be performed? How does the American legal system exercise power have across time as well as space? How can a market exist when the calculation of risk assessment seems to break physics itself?

The answer is deceptively simple: a state monopoly on violence. Little had to change.

The problem then becomes one of logistics. The efficient organization of legal resources, law enforcement, the tracking and investigation of crime. All of these state organs already struggled managing the flow of information from a single, stable, present. Attempting to manage a bureaucracy for a subfinite number of potential presents was thought to be impossible.

Enter, the hyperbureacracy.

Observation. This was the key. Observed particles behave differently than unobserved particles. The market works the same way. Through constant and specific observation of key market elements and a careful recording of these elements, the FTC is able to take the market singularity created by fully sub-transcendant plutophants, and quote "flatten it out like pizza dough" stretching out and pinning down the event horizon like the wings of a dead butterfly into what has been described as anything from an "event fog" to a "semi-permeable event manifold". This system of observation and recording a hyperchronological system forms what we now know as the Federal Trade Hyperbureacracy.

Few truly understand internal fiscal policy. FTH regulatory guidelines must be published in specific ciphers that blunt the texts transchronological properties. Attempting to interact with FTH regulatory guidelines without training can cause extreme psychoeconomic damage. As of 2011, the tax code eclipsed 144,000 pages. Few have read the Tax Codex in it's entirety, and those that do rarely survive.

Study is ongoing.

#unreality #fiction #study is ongoing

[thatsonemorbidcorvid]

Since the 1970s, crash test dummies - mechanical surrogates of the human body - have been used to determine car safety.

The technology is used to estimate the effectiveness of seatbelts and safety features in new vehicle designs.

Until now the most commonly used dummy has been based on the average male build and weight.

However, women represent about half of all drivers and are more prone to injury in like-for-like accidents.

The dummy that is sometimes used as a proxy for women is a scaled-down version of the male one, roughly the size of a 12-year-old girl.

At 149cm tall (4ft 8ins) and weighing 48kg (7st 5lb), it represents the smallest 5% of women by the standards of the mid-1970s.

However, a team of Swedish engineers has finally developed the first dummy, or to use the more technical term - seat evaluation tool - designed on the body of the average woman.

Their dummy is 162cm (5ft 3ins) tall and weighs 62kg (9st 7lbs), more representative of the female population.

So why have safety regulators not asked for it before now?

"You can see that this is a bias," said Tjark Kreuzinger, who specialises in the field for Toyota in Europe. "When all the men in the meetings decide, they tend to look to their feet and say 'this is it'.

"I would never say that anybody does it intentionally but it's just the mere fact that it's typically a male decision - and that's why we do not have [average] female dummies."

Several times a day in a lab in the Swedish city of Linköping, road accidents are simulated and the consequences are analysed. The sensors and transducers within the dummy provide potentially lifesaving data, measuring the precise physical forces exerted on each body part in a crash event.

The team record data including velocity of impact, crushing force, bending, torque of the body and braking rates.

They are focused on seeing what happens to the biomechanics of the dummy during low-impact rear collisions.

When a woman is in a car crash she is up to three times more likely to suffer whiplash injuries in rear impacts in comparison with a man, according to US government data. Although whiplash is not usually fatal, it can lead to physical disabilities - some of which can be permanent.

It is these statistics that drive Astrid Linder, the director of traffic safety at the Swedish National Road and Transport Research Institute, who is leading the research in Linköping.

"We know from injury statistics that if we look at low severity impacts females are at higher risk.

"So, in order to ensure that you identify the seats that have the best protection for both parts of the population, we definitely need to have the part of the population at highest risk represented," she told the BBC.

Dr Linder believes her research can help shape the way cars are specified in the future and she stresses the key differences between men and women. Females are shorter and lighter than males, on average, and they have different muscle strengths.

Because of this they physically respond differently in a car crash.

"We have differences in the shape of the torso and the centre of gravity and the outline of our hips and pelvis," she explained.

But Dr Linder will still need regulators to enforce the use of the average female she has developed.

Currently there is no legal requirement for car safety tests for rear impact collisions to be carried out on anything other than the average man.

Although some car companies are already using them in their own safety tests they are not yet used in EU or US regulatory tests.

Engineers are starting to create more diverse dummies, including dummies that represent babies, elderly and overweight people.

The average female dummy in Linköping has a fully flexible spine, which means the team can look at what happens to the whole spine, from the head to the lower back, when a woman is injured.

US company Humanetics is the largest manufacturer of crash test dummies worldwide and is seen as the leading voice when it comes to the precision of the technology.

CEO Christopher O'Connor told the BBC he believes that safety has "advanced significantly over the last 20, 30, 40 years" but it "really hasn't taken into account the differences between a male and a female".

"You can't have the same device to test a man and a woman. We're not going to crack the injuries we are seeing today unless we put sensors there to measure those injuries.

"By measuring those injuries we can then have safer cars with safer airbags, with safer seatbelts, with safer occupant compartments that allow for different sizes."

The UN is examining its regulations on crash testing and will determine whether they need to be changed to better protect all drivers.

If changes are made to involve a crash test dummy representing the average female, there is an expectation that women will one day be safer behind the wheel.

"My hope for the future is that the safety of vehicles will be assessed for both parts of the population," Dr Linder said.

[centrally-unplanned]

On the object level, I do find myself just very frustrated with any AI singularity discourse topics nowadays. Part of this is just age - I think everyone over time runs out of patience with the sort of high-concept, "really makes you think" discussions as their own interests crystallize and you have enough of them that their circularity and lack of purpose becomes clear. Your brain can just "skip to the end" so cleanly because the intermediate steps are all cleverness, no utility, and you know that now.

Part of it is how ridiculous the proposals are - "6 months of AI research pause" like 'AI research' isn't a thing, that is not a category of human activity one can pause. The idea of building out a regulatory framework that defines what that means is itself at minimum a 6 month process. These orgs have legal rights! Does the federal government even have jurisdiction to tell a company what code it can run on servers it owns because of 'x-risk'? Again, your brain can skip to the end; a legal pause on AI research is not happening in the current environment, at all, 0% odds.

And the other part, which I admit my own humility on being not an AI researcher, is that still am not convinced any of these new tools are at all progress towards actual general intelligence because they are completely without agency. It seems very obviously so and the fact that Chat-GPT is not ever going to prompt itself to do things without human input is just handwaved away. The idea that it will ship itself nanomachine recipes and hack Boston Dynamics bots to build them is a fantasy, that isn't how any of this works. There is always some new version of the AI that can do this, but its vaporware, no one is really building it.

Its not shade on the real AI X-risk people, I have heard their arguments, I get it and they are smart and thorough. Its just a topic where every one of their arguments I ever engage with leave me with the feeling that I am reading something not based in reality. Its a feeling that is hard to push through for me.

#AI does ofc have risk and a lot of it - different from autonomous x-risk

[mariacallous]

Climate law experts are already calling it one of the most impactful rulings on human rights and climate change ever made. Today’s judgment, from the European Court of Human Rights (ECHR), was read out in front of an eclectic gathering of concerned plaintiffs from around the continent.

A group of older women from Switzerland, young people from Portugal, and a former French mayor—all had brought cases to the court alleging that their governments were not doing enough to battle the climate crisis now regularly ravaging Europe with heat waves, droughts, and other extreme weather.

While the ECHR, based in Strasbourg, France, chose not to admit two of the cases in question, it ruled that the Swiss women were right—their government had failed to do enough to meet the country’s responsibilities over climate change. What’s more, the women plaintiffs had also been denied their right to a fair trial in their country, the court found.

“It’s really a landmark judgement that was issued today, and it’s going to shape how all future climate change judgements are decided,” says human rights law researcher Corina Heri from the University of Zurich, who was present to hear the court’s decision for herself. “I was really relieved and very happy,” she adds, describing the moment when she heard the results of the judges’ deliberations.

Climate activist Greta Thunberg, who also attended the ruling, told reporters afterward that the world could expect more climate-change-related litigation.

The ECHR judges ruled 16 to 1 that the Swiss women—known as the KlimaSeniorinnen, or Senior Women for Climate Protection—had been subject to a violation of their human rights under the terms of the European Convention on Human Rights. The women had argued, for instance, that they were particularly vulnerable to the effects of heat waves.

Essentially, the ECHR has said it deems the Swiss government’s efforts on climate change mitigation to be insufficient. In the immediate aftermath of the ruling, Swiss president Viola Amherd told reporters that she would have to read the court’s judgement before commenting in detail.

“What Switzerland failed to do in the eyes of the court is, firstly, they don’t have a sufficient regulatory framework [for tackling climate change],” says Catherine Higham at the London School of Economics, who coordinates the Climate Change Laws of the World project. “They also felt there was evidence that Switzerland had inadequate 2020 targets and it failed to comply with those.” By 2020, the country had aimed to cut emissions by 20 percent from 1990 levels—however, emissions fell by only 14 percent.

The case brought by a former French mayor who said his town was at risk from rising sea levels was not admitted by the court because the man no longer lives in France. And the case by six Portuguese young people, penned in response to devastating wildfires in 2017, was also not admitted—partly because the plaintiffs did not bring their case in their own country before approaching the ECHR.

Despite this, the positive ruling for the KlimaSeniorinnen is being touted as hugely significant by legal experts. In this case, the court did not accept complaints from individuals within the group, but it did accept complaints made by the group itself as an organization—a distinction that could influence how people collectivize and approach European courts with similar cases in the future, says Heri.

She adds that there was a possibility the court could have ruled that the European Convention on Human Rights doesn’t actually require climate action. Had that happened, it could have undermined existing rulings made in European domestic courts that have demanded tougher climate policies from governments. For example, the Brussels Court of Appeal ruled last year that Belgium must cut its emissions by 55 percent from 1990 levels by 2030.

Today’s judgement comes following years of climate-change-related litigation gathering pace in courts around the world. In the US in 2023, for example, a judge ruled that the state of Montana was violating the right of 16 young people to a “clean and healthful environment.”

Higham says the ECHR’s ruling is “likely to have ramifications around the world.” She notes that, globally, there are around 100 similar cases in progress at various courts, also challenging governments over their climate change mitigation efforts. Heri agrees, noting that the ECHR is viewed globally as a highly influential international court.

Jorge Viñuales at the University of Cambridge, who specializes in law and environmental policy, says it is notable that Switzerland has been found to have fallen foul of human rights legislation, despite the fact that the country has relatively good climate policies. He criticizes the ECHR’s decision not to admit the case brought by the Portuguese young people, however. Part of the court’s reasoning was that their case was targeted not just at Portugal but every EU member state and five other countries. “The court seems to misunderstand that the climate system is everywhere and that effective control over the source of harm is what should count,” says Viñuales.

A big question around climate-change-related legal cases is over their impact—do they actually have enough clout to steer countries and large corporations toward reducing emissions faster than planned? Higham says there is evidence that this is already happening. In the Netherlands, the country’s Supreme Court ordered the government to slash emissions by 15 megatonnes in 2020, and a sharp drop in emissions followed. “We do see policy changes in the Netherlands that seem to be influenced by that judgement,” says Higham.

The ECHR ruling could also reignite cases that have struggled in some nations under the ECHR’s jurisdiction, such as the UK. This is “immensely significant,” says Tim Crosland, director of Plan B, a legal group that challenged the UK government over its climate policies but ultimately lost the case in 2021. “The High Court said, ‘Your fundamental problem is there is no precedent from Strasbourg to support your position that fundamental rights have been violated,’” says Crosland. “Well, now there is.”

Defendants in future cases may feel that their country’s own emissions are only a fraction of those responsible for climate change, and that therefore it is unfair to single one state out over many others. However, the ECHR ruling does not exaggerate nations’ individual duties, says Crosland. Each state has a share of the world’s carbon budget for keeping global warming to, for example, less than 1.5 degrees Celsius.

“Obviously, Switzerland isn’t responsible for emissions from the US or from China, but it’s responsible for its own emissions—and that’s what the judgement says,” he explains.

[shielfc]

Operational Risk Management Explained By Shield

Operational risk management is the process of recognizing, analyzing, and accepting (or reducing) uncertainty in investment decisions. Read the complete article to know more about the types of risks in financial institutions and visit our website to explore the services. Visit now!

#operational risk management #risk management compliance #risk compliance #security and compliance #risk and compliance #legal and regulatory risks

[thehopefuljournalist]

According to a new survey, lawmakers are playing an increasingly important role in holding corporations and governments accountable for failures to tackle the climate crisis.

The research was done by Columbia Law School, and was commissioned by the United Nations Environment Program (UNEP). It revealed that the number of climate-related court cases has more than doubled since 2017 and is steadily rising around the world.

Their report confirms a trend highlighted in the World Economic Forum’s Global Risks Report 2023, which claimed that individuals and environmental organizations were, more and more, turning to the law, as it became clear that the pace of transition to net-zero emissions was too slow.

“Climate litigation is increasing and concerns about emissions under-reporting and greenwashing have triggered calls for new regulatory oversight for the transition to net zero,” the Forum report said.

The UNEP report catalogues a number of high-profile court cases which have succeeded in enforcing climate action. In 2017, when climate case numbers were last counted, 884 legal actions had been brought. Today the total stands at 2,180.

The majority of climate cases to this date (1,522) have been brought in the US, followed by Australia, the UK, and the EU. The report notes that the number of legal actions in developing countries is growing, now at 17% of the total.

Climate litigation is also giving a voice to vulnerable groups who are being hard hit by climate change. The report says that, globally, 34 cases have been brought by children and young people, including two by girls aged seven and nine in Pakistan and India.

Here are five of the climate breakthroughs achieved by legal action so far.

1. Torres Strait Islanders Vs Australia

In September 2022, indigenous people living on islands in the Torres Strait between northern Queensland and Papua New Guinea won a landmark ruling that their human rights were being violated by the failure of the Australian government to take effective climate action.

The UN Human Rights Committee ruling established the principle that a country could be in breach of international human rights law over climate inaction. They ruled that Australia's poor climate record was a violation of the islanders’ right to family life and culture.

2. The Paris Agreement is a human rights treaty

In July 2022, Brazil's supreme court ruled that the Paris climate agreement is legally a human rights treaty which, it said, meant that it automatically overruled any domestic laws which conflicted with the country’s climate obligations.

The ruling ordered the government to reopen its national climate mitigation fund, which had been established under the Paris Agreement.

3. Climate inaction is a breach of human rights

Upholding an earlier court ruling that greenhouse emissions must be cut by 25% by 2020, the Netherlands Supreme Court ruled that failure to curb emissions was a breach of the European Convention on Human Rights.

The December 2019 ruling stated that, although it was up to politicians to decide how to make the emission cuts, failure to do so would be a breach of Articles 2 and 8 of the Convention which affirm the right to life and respect for private and family life.

4. Companies are bound by the Paris accord

Corporations, and not just governments, must abide by the emissions reductions agreed in the Paris climate treaty. This principle was established by a 2021 ruling in the Netherlands brought by environmentalists against energy group Royal Dutch Shell.

The court ordered Shell to cut its CO2 emissions by 45% by 2030 bringing them in line with Paris climate targets. The judge was reported as saying there was "worldwide agreement" that a 45% reduction was needed, adding: "This applies to the entire world, so also to Shell”.

5. Courts overturn state climate plans

Up until now, three European governments have been defeated in the courts over their climate plans.

In March 2021, Germany’s highest court struck down a climate law requiring 55% emissions by 2030 cuts, ruling it did not do enough to protect citizens’ rights to life and health. The same year, the French government was ordered to take “immediate and concrete action” to comply with its climate commitments. And in 2022, the UK’s climate strategy was ruled unlawful for failing to spell out how emissions cuts would be made.

#climate change #climate #hope #good news #more to come #climate emergency #news #climate justice #hopeful #positive news #long post #important #good post #links #for future reference #law #climate law #paris agreement #paris climate agreement #government #democracy #politicians #economics #politics

[constructionsafetynetwork]

Navigating the Challenges in Construction Safety

What are your biggest challenges? In the realm of construction, safety stands as a paramount concern. Navigating the challenges in construction safety is not just about compliance; it’s about protecting lives. This article explores the multifaceted challenges in construction safety and offers insights into overcoming them effectively. Regulatory Changes and Construction Safety Navigating the…

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#bloganuary #bloganuary-2024-01 #budget management #construction industry #Construction Safety #cultural diversity #dailyprompt #dailyprompt-1804 #environmental adaptation #extreme weather #informational use #language barriers #Legal Disclaimer #mental health #professional advice #project management #regulatory changes #Risk Management #safety equipment #safety protocols #safety standards #safety technology #Safety Training #supply chain efficiency #user responsibility #worker compliance #worker engagement #workforce wellbeing #Workplace Safety

[panchitacarmensita]

Aligning Corporate Strategy with Legal and Regulatory Standards in Hong Kong

When establishing and growing a company in Hong Kong, it is vital that business leaders factor in the region's complex legal and regulatory environment into strategic planning. Failure to adhere to employment ordinances, tax codes, intellectual property laws and other standards can undermine your entire China/HK growth agenda. This article provides best practices on aligning organizational strategy with key compliance benchmarks.

Start by Building a Legal/Regulatory Risk Profile

Gather input from your Hong Kong legal advisors on the primary laws and regulations that will impact core business functions based on your growth roadmap. Recruit specialists for insights across domains – an employment lawyer to advise on ordinances around pay, working conditions and termination requirements; a corporate attorney familiar with documentation needs as outlined under the Hong Kong Companies Ordinance and Securities and Futures Ordinance (SFO); and a team with nuanced understandings around taxation in Hong Kong/Mainland China.

Emphasize Governance and Standard Operating Procedures (SOPs)

With your risk map complete detailing major compliance pressure points around formation, sales, trading, hiring, operations and more, use this framework to drive governance moves that harden the organization against illegal or unethical actions. Expand procedures around everything from acquiring entities in China to information sharing standards that prevent insider trading incidents that might imperil your HK stock listing. Appoint board oversight committees on ethics and regulatory policy.

Monitor Regulatory Trends Proactively

Laws and policies do not remain static – from 2023 increases to statutory severance pay to tightening rules against monopolistic practices among Mainland businesses by the State Administration for Market Regulation, regulations shift frequently. Continuously follow key policy proposals and moves by agencies like InvestHK, while participating in trade associations that can help represent your interests in government discourses.

Align Business Objectives with Compliance Mandates

Finally, let mandatory requirements guide corporate strategy itself by identifying opportunities. With crackdowns on corruption and tax evasion, build competitive advantage via best practices in transparency and disclosure around transactions, modeling anti-bribery across China operations. Where competitors resist minimum wage increases or workplace improvements, embrace these to attract top talent across Hong Kong and Shenzhen centers tapping young professional desire for purpose-driven leadership.

By viewing ongoing legal and regulatory reform as intrinsic to strategy rather than counterweights to growth, foreign companies can sustainably thrive across Hong Kong and mainland China's vast ecosystem, while accelerating competitive edge, financial performance and positive societal impact.

#Hong Kong compliance #Hong Kong regulatory strategy #Hong Kong legal strategy #Hong Kong corporate governance #Hong Kong risk management #Hong Kong regulatory risk #Hong Kong legal risk #Hong Kong Companies Ordinance #Hong Kong SFO #Hong Kong business regulations #Hong Kong employment law #Hong Kong tax law #Hong Kong trade law #Hong Kong IP law #Hong Kong insider trading #Hong Kong anti-bribery #Hong Kong anti-corruption #Hong Kong minimum wage #Hong Kong workplace laws #Hong Kong young professionals #Hong Kong talent acquisition

[darkautomaton]

Best Practices in Corporate Risk Management in Hong Kong

With an increasingly complex legal, regulatory, economic, and technological environment, effectively managing organizational risks is critical for companies striving towards sustainable growth in Hong Kong. By taking a strategic approach to identifying key risk exposures and establishing governance policies to address vulnerabilities, both local and multinational corporations can enhance resilience.

Conduct Extensive Risk Assessments

The foundation for building robust risk oversight is to regularly conduct enterprise-wide assessments, tapping perspectives from leaders across functions on risks emerging within main business units, as well as at the corporate level. Special focus should be placed on emerging risks - from supply chain disruptions to fast-evolving cybersecurity threats. Risks posed by Hong Kong regulations and legal responsibilities around data, employment, IP, taxation and import/export controls should also be incorporated.

Appoint Centralized Risk Leadership

While business heads are accountable for risks within their domains, oversight at the core by a Chief Risk Officer and/or risk management committee provides critical independence and cross-functional coordination. Responsibilities span creating risk reporting procedures to keeping senior leadership and board directors appraised, to aligning mitigation plans with corporate strategy. Risk managers also liaise with insurance providers to secure proper coverage against financial hazards.

Implement Key Risk Policies

Findings from risk assessments should drive key policy changes, be it business continuity planning to address operational crises, instituting ethics training to reduce fraud and corruption, or enacting information handling protocols to avoid data leaks, hacking and illegal trading incidents that would undermine Hong Kong stock listings. Anti-money laundering and sanctions/export controls compliance also need special attention in Hong Kong as a gateway between China and global trade.

Monitor External Signals

In addition to internal risk monitoring, closely follow legislative or law enforcement policy shifts, as well as economic/political disruptions arising locally as well as in mainland China that stand to impact operations. Participate in trade groups and maintain contacts in agencies like InvestHK to receive critical market updates. Regular stress tests help evaluate Hong Kong megaprojects like the Greater Bay Area growth plan or One Belt One Road initiative - and gauge ensuing risk reprioritizations.

By approaching risk oversight as an integrated corporate capability monitoring both internal weaknesses and external threats, companies gain enhanced visibility into vulnerabilities which allows preemptively strengthening of operations against cascading Hong Kong/China hazards - thereby boostinglong-term performance and valuation for shareholders.

#Hong Kong risk management #Hong Kong enterprise risk #Hong Kong risk assessment #Hong Kong business risks #Hong Kong operational risks #Hong Kong cybersecurity risks #Hong Kong regulatory risks #Hong Kong legal risks #Hong Kong financial risks #Hong Kong political risks #Hong Kong Chief Risk Officer (CRO) #Hong Kong risk committee #Hong Kong risk governance #Hong Kong risk reporting #Hong Kong risk policies #Hong Kong business continuity planning #Hong Kong fraud prevention #Hong Kong data protection #Hong Kong information security #Hong Kong anti-money laundering #Hong Kong export controls #Hong Kong trade compliance #Hong Kong InvestHK

[tanadrin]

i think the other thing that chaps my ass so much about the american conservative legal movement--as opposed to other flavors of conservatism in politics--is that it seems uniquely pro-business in a way which is totally unprincipled. fedsoc types will twist themselves into knots to help large businesses avoid penalties and lawsuits even when there’s basically no case to be made, on legal or public policy grounds, conservative or progressive--i think the exxon valdez oil spill and the final legal outcome there is a good example. heck, tort reform generally--like you could make a conservative argument that a regulatory state is expensive, we don’t want to pay for it, we think people suing businesses only when actual harm occurs is better for society. i think that’s wrong, incidentally; i think it means that only people with money have access to the law, and it means that companies that sell dangerous products or break the law are much less likely to suffer consequences. but that’s definitely a consistent way you can argue society should be arranged, and is frequently the option u.s. lawmakers have gone with.

but the conservative legal response to this has been, “hmm, this looks too much like businesses actually having to follow the law,” and then to push for tort reform to drastically limit punitive damages, so that even when firms do sell dangerous products or otherwise break the law, they don’t suffer significant consequences, because damages are capped at an absurdly low level. this gets cast as fat-cat plaintiffs somehow unjustly enriching themselves, even though the whole point of punitive damages is, well, punitive, to disincentivize certain behavior! and this money only goes to defendants because in a civil suit there’s no one else for it to go to--we explicitly opted for this regulatory model when we decided we weren’t going to have the government step in and fine these companies directly!

(the response to this, by the way, was mandatory arbitration clauses; but nowadays firms have decided that even arbitration favors plaintiffs too much, which is a self-evidently absurd thing to say, since companies largely get to pick and choose the terms of arbitration. so conservative legal movement types are hard at work trying to come up with ways to further favor companies in arbitration, because the alternative--allow companies to actually be incentivized to break the law less--is too absurd to contemplate)

by and large, i do not think many americans who are conservative are pro-business, except in the weak sense that they are broadly authoritarian and business is historically one of many local forms of baronial authority in society. but for modern, large firms, both the distribution of power and the ways which you might want to rein it in to prevent or mitigate negative externalities (like environmental disasters or risks to consumer health) are not naturally aligned with any ideology except what might loosely be termed a “pro-business” ideology. it’s not even a classical liberal/libertarian ideology, though, because it’s not an ideology which promotes competition of free markets--conditions under which competition and free markets flourish are very different from conditions under which sprawling, highly-integrated firms flourish!

it’s a bad and incoherent set of policies unless you are ideologically in favor of rent extraction and government corruption--so it masquerades as conservatism, but could probably just as easily cast itself as progressive if that particular political coalition broke down.