The Federal Reserve Board, FDIC and OCC extended the comment period for proposed risk management guidance concerning third-party relationships of banking organizations from September 17, 2021, to October 18, 2021.
News & Insights
The Federal Financial Institutions Examination Council updated guidance for financial institutions on effective authentication and access risk management standards and practices.
The Federal Reserve Board, the FDIC and the OCC proposed risk management guidance for the third-party relationships of banking organizations.
In an updated booklet for the Information Technology Examination Handbook, the Federal Financial Institutions Examination Council describes "enterprise-wide, process-oriented approaches" for the design of technology within a business structure, implementation of IT infrastructure and delivery of services for customers.
An investment firm was fined $2.9 billion by several authorities for its failure to (i) properly oversee its operations, (i) maintain internal controls and (iii) conduct proper risk management, with regard to its employees' involvement in improper payments to foreign officials.