By Ben DiPietro
July 21, 2017
Worried, Not So Worried: A survey of 132 senior-level risk and regulatory executives in the North America and Asia-Pacific regions by risk data-management firm AxiomSL found 69% of executives in those regions said they are more concerned this year than last year about their organizations’ ability to comply with upcoming regulations, while just 28% of North American execs said they are more worried. Fifty-three percent of APAC execs said they don’t trust the accuracy of their organizations’ data, compared to 35% of their North American respondents.
“It’s difficult to predict with complete accuracy which new regulations will take effect, and when,” said Peter Tierney, chief executive of AxiomSL’s APAC region. “What is clear is that firms need to be more forward-looking and strategic, not only preparing for regulatory changes on the immediate horizon but also investing in technology that can be leveraged and optimized to operate in a range of different regulatory climates,” he said.
Shorting Strategy: A survey of board members by the National Association of Corporate Directors found 58% said they find it challenging to pressure-test the validity of increasingly uncertain assumptions underlying strategy. Fifty-three percent said there is not enough time spent at board meetings on in-depth strategy discussions.
Employees Don’t Know Best: An analysis by e-learning software firm True Office Learning of proprietary performance data of around 120,000 employees at 37 client companies found 32% failed to name data-security best practices, while 35% failed to recognize the signs of a social-engineering attempt.
Inaction On Actions: A survey of 200 security professionals focused on incident response by security-automation firm Demisto found that 30% said they have no playbooks, run-books or other documentation for incident-response actions, despite an average of nearly 350 incidents per week.
Diversity In Guidelines: A survey of 51 mid- and large-sized companies by Wolters Kluwer’s ELM Solutions and Gartner found 31% said they include formal requirements addressing diversity, inclusion and data security in their outside counsel billing and staffing guidelines.
Regulating Time: The number of hours financial institutions spent in the second quarter of 2017 analyzing and implementing new regulations rose 27% compared to the first quarter, according to the Banking Compliance Index by Continuity.
Originally featured in the Wall Street Journal