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Risk Channel helps you stay ahead of essential risk news shaping your profession. Every weekday, our unique blend of AI, risk experts and researchers monitor 100,000s of articles to share a summary of the most relevant and useful content to help you lead, innovate and grow.
From supply chain to regulatory enforcement, data privacy, GRC controls, whistleblowers, and risk management strategies. Risk Channel is the only trusted online news source dedicated to covering current headlines, articles, reports and interviews to make sure you’re at the forefront of changes in the risk industry.
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Recent Editions
Risk Channel
North America
A recent survey conducted by a Washington-based trade association representing biotechnology companies found that 79% of respondents have contracts or product agreements with Chinese manufacturers. The survey, conducted by the Biotechnology Innovation Organization (BIO), revealed that the majority of respondents are small, emerging biotechs. The survey was conducted in response to proposed legislation that could restrict business with Chinese biotech companies. BIO stated that 74% of respondents have contracts with Chinese companies for pre-clinical and clinical services, while 30% have contracts for manufacturing approved medicines. The trade group warned that decoupling from China-based or China-owned biomanufacturing could harm millions of U.S. patients. The survey also found that it would take up to eight years to switch manufacturing partners.
Full Issue
Risk Channel
UK/Europe
MPs on the Treasury Committee have urged the Financial Conduct Authority (FCA) to ensure banks are more transparent on why they “debank” businesses. In a report on its inquiry into the barriers SMEs face to accessing finance, the committee called on the City watchdog to force lenders to detail the number of business accounts they close each quarter, as well as the reason. The FCA said it will “carefully consider” the recommendations, adding that it has “been clear to banks they must be fair to people, including businesses, when considering closing accounts.” Trade body UK Finance said closures affect a small proportion of business accounts and are mainly due to a lack of information sharing, dormant accounts and financial crime concerns. The Federation for Small Businesses says the FCA should demand more information from banks to establish the main underlying reasons for closures, while also suggesting that small business owners should also be given a three month grace period to find a new provider if their bank account is to be closed. Data from Barclays, HSBC, TSB, Lloyds, Santander, NatWest, Metro and Handelsbanken shows that more than 140,000 small businesses have been de-banked by major lenders in the past year, often immediately and with no explanation.
Full Issue
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