We are aware of some brokers who have recently been affected by this. If you are unaware of ransomware or what your options are, then this could become a very expensive experience; consider the time in lost man hours where staff are unable to work, and loss of business because you are unable to access your systems for quotations and the like.
Business Risk Asessments
It is evidently prudent to keep some ‘rainy day’ money in reserve and whilst the FCA is not prescriptive about the amount of contingent element that has to be identified, it details that "adequate risk management systems" are required by PRIN 3 (which is mandatory) and a firm must "monitor and report the risks it is or might be exposed to" as required by SYSC 4.1.1.R (which is also mandatory).
RWA Selected In The 2016 Wales Digital Dozen
RWA has been selected for this year’s prestigious Digital Dozen by the organisers of the UK technology event, Digital 2016. The 12 finalists chosen by Innovation Point are driving digital change and harnessing the latest technological advances to offer a range of trailblazing products and services.
Swindon Town Football club fined £2,500 a day for pensions failings
Landmark penalty brings warning more employers may be caught out if they fail to comply. Swindon Town Football Club (STFC), which plays in League One, paid a penalty of £22,900 – calculated at a rate of £2,500 per day for the period its compliance was deemed unsatisfactory by the regulator, as well as a lump sum fine.
Insurance Broker Ordered to Pay Hefty Fine for Unfair Dismissal
Northern Ireland’s largest insurance broker has been ordered to pay out almost £46,000 to a former senior staff member for unfair dismissal.
Cyber Crime, Cyber Liability, Cyber Security or time for a Cider?
I thought the title might encourage you to read on! By the time you have read this, the last option may seem to be the most appealing…
My Development Zone in Corfu: Reflections
As the British public are rediscovering 1930’s Corfu through the recently aired and beautifully captured series, The Durrells, I took to the sky to be there in the present day attending the 3rd Annual Corfu Symposium 2016 – Managing and Marketing Places.