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Recent Editions

Risk Channel
North America
The U.S. Securities and Exchange Commission (SEC) has reached a preliminary deal with software company SolarWinds and its chief information security officer to end litigation tied to a Russia-linked cyber attack. The SEC, SolarWinds and Timothy Brown successfully petitioned a federal judge on Wednesday to stay court proceedings while paperwork for a settlement was finalized. The regulator had sued SolarWinds and Brown in connection with a two-year cyber attack known as Sunburst that targeted the Austin, Texas-based firm. A judge dismissed much of the regulator's case last year. The SEC had said that the defendants defrauded investors by concealing security weaknesses, but U.S. District Judge Paul Engelmayer, who approved the stay, opined that such claims were based on "hindsight and speculation."
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Risk Channel
UK/Europe
The Financial Conduct Authority (FCA) has extended rules on bullying, harassment and violence in an effort to "deepen trust in financial services." Clarifying its remit around "non-financial misconduct" in the sector, the FCA said that while it has often been unclear when bullying and harassment would amount to a breach of conduct rules in firms other than banks, the rules will be extended to around 37,000 other regulated firms as of September 2026, "increasing consistency across financial services." A recent FCA survey revealed a 67% increase in reports of non-financial misconduct, rising from 4.2 incidents per 1,000 employees in 2021 to 7.2 in 2023. Sarah Pritchard, the FCA’s deputy chief executive, said: "Too often when we see problems in the market, there are cultural failings in firms," adding: "Behaviour like bullying or harassment going unchallenged is one of the reddest flags." She added: "A culture where this occurs can raise questions about a firm’s decision making and risk management."
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