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RDC’s subject matter experts – chief risk officers, regulatory and compliance officers, technologists, intelligence analysts, federal and state prosecutors, investigators – touch on compelling risk and compliance topics for our readers:

 
RDC NEWSLETTER: August 2013
Greetings from the front lines!
 

Summer is nearly over, and while I hope you had some time to enjoy it, I have seen firsthand that many of you have been working overtime on meeting regulatory demands and strengthening your firms’ compliance protection. RDC has been busy supporting your efforts and helping with our clients challenges.    

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RDC WHITEPAPER: August 2013
Politically Exposed Persons and The Risk-Based Approach
Kevin J. Ford, Chief Compliance Officer, RDC
 

The definition and identification of Politically Exposed Persons (PEPs) and the management of the risks associated with PEP clients continues to be a major challenge for financial institutions and increasingly for corporations seeking to comply with global anti-bribery laws.  The management of PEP risk is unique in that unlike criminals or terrorists, the great majority of politically exposed persons represent little or no risk to a financial institution or commercial enterprise.
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RDC NEWSLETTER: April 2013
On the Horizon for 2013
 
Spring is a time for renewal, for looking forward—and the AML world can’t move past 2012 fast enough.  Massive fines, ubiquitous and challenging regulatory actions, and never-ending audits do not make for fun times. But let’s stay with the spirit of the season and look forward.  What does the crystal ball say about 2013?
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Article/Comments: 2012: The Year Dodd-Frank Comes To Town
Kevin J. Ford, Chief Compliance Officer, RDC
Published in Dow Jones' 2012 Global Outlook & Review (pg 22-23), Q1 2012
 
In private equity lore, 2012 will likely become known as the year that Dodd-Frank arrived.  Next month, private equity investors and hedge fund managers will face the deadline for registration with the Securities and Exchange Commission under the Investment Advisors Act of 1940, and many private equity firms are now getting prepared.
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Article: Why FCPA Risk Has Become Personal
Kevin J. Ford, Chief Compliance Officer, RDC
Published in CFO.com, Q4 2011
 
There was a time when the U.S. Department of Justice primarily focused its attention on prosecuting companies responsible for bribing foreign officials. Critics of this practice argued that the resulting fines had become just another cost of doing business. So, about eight years ago, the DoJ announced a new strategy of targeting corporate officers and directors for criminal prosecution under the Foreign Corrupt Practices Act (FCPA) in order to more significantly deter global corporations from engaging in corrupt practices.

 

 

Article: U.K. Bribery Act Ups The Ante In The Global Fight Against Corruption
Kevin J. Ford, Chief Compliance Officer, RDC
Published in Business Insider, Q3 2011
 
One needn’t look beyond the steady stream of front page headlines that have appeared over the past several years to know that the U.S. has dramatically stepped up its enforcement of the Foreign Corrupt Practices Act (FCPA).  While the U.S. continues to be the world leader in prosecuting companies for the payment of bribes in foreign business, the U.K. has raised the bar with its own set of provisions including several sweeping and unusual elements that have unleashed a flurry of concern in the global business community.

 

 

Article: The U.K. Bribery Act 2010 is Here - What Does It Mean for Your Company?
Kevin J. Ford, Chief Compliance Officer, RDC
Published in Bureau of National Affairs - Securities Regulation & Law Report, Q2 2011
 
Financial institutions, including broker-dealers, have been living with the legal and regulatory requirements of the U.S. Foreign Corrupt Practices Act (FCPA) for more than three decades.  The United States was the first nation to outlaw the payment of bribes to foreign public officials that were intended to "obtain or retain business" for the company offering the inducement.  With the Department of Justice's global reach and an increasingly robust enforcement program, the FCPA has prompted many if not most multinational commercial organizations, including many global financial institutions, to adopt FCPA compliance programs that include anti-bribery policies & procedures, staff training, vendor due diligence and program audits.

 

 

Article: The Progression Toward Risk Diligence Convergence
Thomas Obermaier, CEO, RDC
Published in Financial Services Technology, Q1 2010
 
The practice of regulatory, financial and reputational diligence has long suffered from a fragmented and costly “siloed” approach.  Traditionally, most firms have had too many systems and people performing the same functions across the credit, fraud, AML and transaction processing risk space.  As each discipline expanded over time, seven-figure budgets quickly became nine.  Worse yet, much of the expense related to the processing of information leading to a risk decision point often revolved around similar, non-core processing functions.  The practice begged for the efficiencies to be realized through convergence. 

 

 

Article: Getting More from Your Risk Intelligence
Published in Financial Services Technology, Q1 2010
 
The Great Financial Crisis forced us all to rethink risk management. What didn’t work had to change, while that which worked required urgent exploitation and expansion. Never again could a large financial institution afford to be flagged for failing to capitalize on a proven risk management technique for all relevant disciplines. Strengths specific to one area required transformation into a more universal application. Plus, given prevalent margin compression across the industry, any transformation would need to occur in the most efficient manner. 

 

 



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