In the age of digitization, data seems less secure than ever. Public companies constantly attempt to safeguard both personal and financial data, yet their efforts fail due to new outbreaks of malicious encryption viruses and persistent email phishing attempts. Data breaches and cyber fraud carry severe financial implications for public companies who fall victim to these types of attacks. But a new Securities and Exchange Commission (SEC) report says that public companies that are easy targets of cyber scams could also be in violation of federal securities laws and accounting regulations that call for firms to safeguard their assets. Although the SEC has issued its warning to public companies about the compliance and financial risks posed by cyber fraud, many companies are still struggling to implement effective protections against newly-evolved forms of cyber-attacks.
Direct-to-consumer genetic testing kits have exploded in popularity over the last decade. Ancestry.com and 23andMe proudly state they have had ten million and five million customers, respectively, using their DNA testing services. One study projects that improvements in technology and popularity will cause DNA testing to increase tenfold by 2021. Many experts in the field of genetics and bioethics have expressed concern regarding the ability of regulators and privacy infrastructure to keep pace with the expansion of these types of genetic services. We may not be at a point where we understand the full implications of having such large banks of genetic information, but here are five reasons to be concerned.
California Governor Jerry Brown signed a historic bill on September 30 that mandates every publicly held corporation whose principal offices are located in California to have a representative number of women on its board of directors. In a letter announcing Senate Bill 826, Governor Brown admits that there are serious legal concerns to the bill and that its potential flaws could “prove fatal to its ultimate implementation” but that it is time to force action regarding the lack of gender diversity on company boards.
The Trump administration recently delivered a one-two punch to late Obama administration environmental regulations designed to curb the release of methane gas into the atmosphere while simultaneously encouraging its capture for sale. Two Obama era regulations were modified. The first, from the Department of the Interior, was effectively abrogated, while the other stemming from the Environmental Protection Agency (“EPA)” is expected to retain only a fraction of its original force. Environmental groups have already responded to the repeal of the department of interior regulation with a lawsuit in federal court. Methane gas pollution became a greater concern in recent years as the production and use of natural gas as an energy source continues to increase. Proponents of earlier regulations point to methane’s potent contribution to the greenhouse effect, while critics argued the regulations were unnecessary given the natural gas industry’s own efforts and incentives to reduce leaks and capture as much usable gas as possible.
With the implementation of the Tax Cuts and Jobs Act that was passed in 2017, there have been several changes to the tax system. The Opportunity Zone program was a small piece of the tax reform that has recently gained more publicity. The Opportunity Zone program provides tax benefits to real-estate investors. The Trump Administration recently released definitions and rules in a package of proposed regulations.
Protected Health Information is seeing a surge of breaches on the cyber security front due to contractor error. It’s also impacting the most consumers in comparison to other data breaches and, in some cases, has the power to cause chaos in national infrastructure. Advances in technology and compliance measures can stem the tide and protect the most valuable information in consumers lives.
Regulatory compliance requires investment, but it can also mean opportunity. The level of investment looks different depending on the industry. One consistency covering all industries impacted by regulation is the potential benefit resulting from relationships with compliance officers and regulatory officials. Embracing compliance means embracing the relationships that follow.
Earlier this year, Bitcoin, and cryptocurrencies writ large, occupied many financial headlines as onlookers began to divert their attention to the “unexplained” rise, and subsequent fall in the price of one the more popular (and maiden) cryptocurrencies: Bitcoin. Naturally, because many of the onlookers didn’t realize what Bitcoin was (or is), the media took lead on the story. Earlier this month, Bitcoin began to make its appearance in headlines, once again.
In October 2018, the Intergovernmental Panel on Climate Change of the United Nations issued a special report on the impact of global warming. The report shared extensive research about our changing atmosphere and issued a grave warning: we must act immediately. The harrowing news came just over one year after President Trump ordered the United States’ withdrawal from the Paris Climate Agreement in June 2017. This begs the question: how will changes be made when the world’s most powerful and impactful hegemon refuses to cooperate?