Archive by Author

South Korea Financial Transaction Reports Act – An Overview and Summary of Requirements

By Staff Editor Date: September 30, 2013 The Financial Transaction Reports Act in South Korea was enforced to preventcriminal and money laundering activities through financial transactions by stipulating provisions for establishment of a sound and transparent financial system. Report by the Financial Institutions The financial institutions should report the following cases to the Korea Financial Intelligence Unit […]

Prudential Standard GPS 120 Assets in Australia – An Overview and Summary of Requirements

By Staff Editor Date: September 30, 2013 This Prudential Standard specifies certain assets that are excluded from being treated as ‘assets in Australia’ by a general insurer. There are specific provisions applying to locally incorporated insurers and to Category C insurers.   Locally incorporated insurers The following assets of locally incorporated insurers areexcluded from being treated as […]

APRA General Insurers Authorization Guidelines – An Overview and Summary of Requirements

By Staff Editor Date: September 30, 2013 These guidelines set out the principles which the APRA uses to decide whether to authorize general insurers applying to conduct insurance business in Australia. It covers the – authorization process; minimum criteria to be addressed by applicants; and necessary information and documents to be submitted with an application. The overall […]

Discrimination Against the Unemployed Now Prohibited in New York City

By Michael S. Arnold Date: June 28, 2013 Source: http://www.mintz.com/newsletter/2013/Advisories/2786-0313-NAT-ELB/index.html New York City employers beware: The New York City Council has once again acted to expand the nation’s broadest anti-discrimination law — this time to prohibit discrimination against New York City’s unemployed. The law will go into effect on June 11, 2013. While several other jurisdictions (such as […]

Improving the Flow of Information to the Audit Committee

By Frederick D. Lipman Date: June 28, 2013 Abstract: In this paper, Frederick D. Lipman, Partner – Blank Rome LLP and President, Association of Audit Committee Members, Inc., discusses methods of improving the flow of information to audit committees so that they are better able to perform their oversight function. About the Author: Frederick D. Lipman is […]

Your Risk Program is Failing and You Don’t Even Know It

By: James Bone, President-Global Compliance Associates, LLC Date: September 03, 2013 You may be asking how anyone can make such a bold statement without knowing the details of your specific risk program.   Actually, I know more about your risk program than you realize and that’s why I know its failing. I also know that as much as 55% […]