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The World Economic Forum's Global Risks Report 2024 highlights a deteriorating risk landscape, with experts predicting a negative outlook that will worsen over the next decade. At the Riskworld conference in San Diego, risk managers and experts discussed the most pressing issues facing businesses. Some of the key topics included the risks associated with generative artificial intelligence (AI), geopolitical tension, and climate change. Risk managers emphasized the need for businesses to consider the liability associated with AI, manage geopolitical risks, and build resilience to climate events. [Extracted from the article]

China has imposed increased fines on the Beijing arm of Mintz Group, a New York-based due-diligence firm, for allegedly unapproved statistical work. This comes after authorities raided Mintz's Beijing office last year and detained all five Chinese nationals working there. The fines raise the total penalties by 50% to approximately $2.2 million. Beijing has been placing greater scrutiny on the corporate-investigations business in recent years, limiting access to business data and citing concerns over national security. Mintz has not publicly disclosed the financial penalties it has received and it is unclear if the company intends to appeal the additional fines. [Extracted from the article]

The sale of SVB Financial's venture capital arm has encountered difficulties, leading creditors such as Pimco and Davidson Kempner to potentially take over the business. Two potential buyers, SkyBridge Capital and Atlas Merchant Capital, as well as Vector Capital, have withdrawn from the process due to SVB's rejection of their bids. SVB Capital, which manages around $10 billion in assets, was expected to sell for $250 million to $500 million. If no new bidders emerge, the venture capital business could remain under the control of creditors such as Pacific Investment Management Co. and Davidson Kempner Capital Management. [Extracted from the article]

A new policy announced by the Justice Department encourages buyers to thoroughly investigate a target company's compliance efforts before and after a merger or acquisition. Under the policy, if an acquiring company discloses potential wrongdoing at the target company within six months of the deal closing and fixes the problems within a year, it can avoid prosecution by the Justice Department. This "safe harbor" provision is expected to increase the amount and speed of due diligence conducted by acquirers. The policy also emphasizes the importance of national security concerns, particularly for acquisitions involving defense sector companies or businesses with sensitive technologies. [Extracted from the article]

Several investigation firms, including Nardello and the Risk Advisory Group, are withdrawing from Hong Kong and relocating their employees due to declining business and increased crackdowns by Chinese authorities. The firms are re-evaluating their operations in Hong Kong and mainland China as the concept of national security has expanded, making it difficult to determine what is considered sensitive to authorities. The total number of foreign businesses with regional headquarters in Hong Kong has been steadily decreasing, and fundraising activities and IPO listings in the city have significantly declined. However, the Hong Kong government maintains that the city remains business-friendly and stable. [Extracted from the article]

The Department of Justice (DOJ) has announced a new policy that offers more lenient treatment to companies involved in mergers and acquisitions (M&A) if they self-report potential criminal misconduct discovered during the process. Under this policy, an acquiring company that discloses wrongdoing within six months of the deal closing date, cooperates fully, and resolves the issues within a year, can presume it won't be prosecuted by the DOJ. The policy applies to criminal conduct discovered in M&A transactions and aims to encourage companies to invest in strong compliance programs and conduct thorough due diligence. The time frame for reporting and remediation may be extended depending on the complexity of the transaction. [Extracted from the article]

The 35-year-old plays Nelson, one of the most popular characters of "Trust Code", a series of Microsoft compliance training videos that has made him a celebrity among the company's 221,000 employees in 190 countries. Keywords: a-hed; Computers/Consumer Electronics; Software; Applications Software; Risk Management Services; Accounting/Consulting; Business/Consumer Services; Business Consultancy; Computing; Financial Services EN a-hed Computers/Consumer Electronics Software Applications Software Risk Management Services Accounting/Consulting Business/Consumer Services Business Consultancy Computing Financial Services N.PAG N.PAG 1 05/15/23 20230511 NES 230511 Instead of a finger-wagging snoozer about corporate misbehavior, "Trust Code" has flawed characters, dramatic cliffhangers and fans worldwide Like other aspiring actors, Devin Badoo makes ends meet working on TV commercials, including as dads hawking Loctite glue and Hot Wheels toys. [Extracted from the article]

"It wouldn't be in China's interest to create such a climate of fear among U.S. companies that they conclude that China is a dangerous market and start to head for the exits", he wrote. Keywords: Pharmaceuticals; Semiconductors; Risk Management Services; Healthcare/Life Sciences; Accounting/Consulting; Business/Consumer Services; Business Consultancy; Financial Services; Industrial Electronics; Industrial Goods EN Pharmaceuticals Semiconductors Risk Management Services Healthcare/Life Sciences Accounting/Consulting Business/Consumer Services Business Consultancy Financial Services Industrial Electronics Industrial Goods N.PAG N.PAG 1 05/02/23 20230428 NES 230428 Detentions, raids and unexpected visits belie Beijing's invitation to overseas investors Chinese authorities have embarked on a campaign to bring foreign businesses to heel, just months after Beijing delivered an open-for-business message to global investors. [Extracted from the article]

They said the scale would help the companies work with carriers to create new insurance-industry products, particularly for emerging markets, cybercrime and climate change. Also, the brokerages aren't required by regulators to hold big capital cushions, as are insurance companies themselves, so less private-equity money gets tied up in brokerage deals than in those involving insurance carriers. Keywords: Retail/Wholesale; Motor Vehicle Dealing; Specialty Retailing; Insurance; Risk Management Services; Insurance Brokering; Accounting/Consulting; Business/Consumer Services; Business Consultancy; Financial Services EN Retail/Wholesale Motor Vehicle Dealing Specialty Retailing Insurance Risk Management Services Insurance Brokering Accounting/Consulting Business/Consumer Services Business Consultancy Financial Services N.PAG N.PAG 1 07/28/21 20210727 NES 210727 Justice Department alleged the combination of insurance brokers would eliminate competition The Justice Department had alleged the tie-up of insurance brokers would lead to higher prices and reduced innovation for U.S. businesses. [Extracted from the article]

Retail/Wholesale, Motor Vehicle Dealing, Specialty Retailing, Insurance, Non-life Insurance, Risk Management Services, Insurance Brokering, Accounting/Consulting, Business/Consumer Services, Property/Casualty Insurance Keywords: Retail/Wholesale; Motor Vehicle Dealing; Specialty Retailing; Insurance; Non-life Insurance; Risk Management Services; Insurance Brokering; Accounting/Consulting; Business/Consumer Services; Property/Casualty Insurance EN Retail/Wholesale Motor Vehicle Dealing Specialty Retailing Insurance Non-life Insurance Risk Management Services Insurance Brokering Accounting/Consulting Business/Consumer Services Property/Casualty Insurance N.PAG N.PAG 1 06/18/21 20210617 NES 210617 Government antitrust lawsuit alleges merger of insurance brokers will suppress competition An antitrust lawsuit alleges insurance broker Aon's proposed $35 billion acquisition of rival Willis Towers Watson would lead to higher prices and stifle innovation. [Extracted from the article]

M2 PRESSWIRE-21 September 2006-Lloyd's Register: Appointment of Global Business Manager for Risk Management Services(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:21092006 Lloyd's Register has appointed Dr Paul Davies as Global Business Manager for [...]

M2 PRESSWIRE-21 May 2002-SMI: Risk Management Services in the I&C Energy Sector (C)1994-2002 M2 COMMUNICATIONS LTD RDATE:05202002 Risk Management Services in the I&C Energy Sector Opportunities in Risk Management Services [...]

Business Editors TORONTO & NEW YORK--(BUSINESS WIRE)--June 25, 2001 Mark-to-Future(TM) (MtF) Powers ASP Delivery of Risk Management Services Algorithmics Incorporated and Morgan Stanley Prime Brokerage today formally launched AlgoLink(TM), a [...]

Business/Technology Editors and Health/Medical Writers BOSTON--(BW HealthWire)--March 1, 2001 ProMutual Group, the leading provider of medical malpractice insurance in New England, recently announced a partnership with eHealth Solutions Group to [...]

Business Editors MINNEAPOLIS--(BUSINESS WIRE)--July 19, 2000 Innuity, Inc., today launched FRISK(TM) Fraud Prevention and Risk Management Services risk mitigation capabilities. Designed to combat online fraud, one of the most pressing [...]

Business/Technology Editors Retail Systems 2000 CHICAGO--(BUSINESS WIRE)--April 17, 2000 iCOMS, Inc. the leading provider of Managed Internet Commerce(SM) services, will highlight its risk management service solution for e-retailers this week [...]

Business/Technology Editors BOSTON--(BUSINESS WIRE)--March 27, 2000 iCOMS, Inc. the leading provider of Managed Internet Commerce(SM) services, today announced a new solution to address the increasing prevalence of Internet fraud for [...]

Business Editors BOSTON--(BUSINESS WIRE)--Feb. 2, 2000 ProMutual Group, the leading medical malpractice insurer in the Northeast, is now selling its Risk Management Services as a stand-alone service, unbundled from its [...]

SCHAUMBURG, IL--(BUSINESS WIRE)--December 16, 1999-- Zurich U.S., a leading commercial property and casualty insurance provider, announced today the appointment of Mary Anne Mullin as Manager of Risk Management Services for [...]

PARSIPPANY, N.J.--(BUSINESS WIRE)--Oct. 13, 1999-- GAB Robins North America, Inc., a leading independent insurance services provider, announced today that seven of its Risk Management Services' (RMS) locations have earned ISO [...]

BLUE BELL, Pa.--(BUSINESS WIRE)--June 28, 1999-- The PMA Insurance Group is pleased to announce that Jerry Self has joined the organization as Risk Management Services (RMS) Assistant Vice President for [...]

American Re Insurance plans to come to market within the next two weeks with what is believed to be one of the few catastrophe bonds based on a proprietary index [...]