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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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Risk Channel
North America
Hedge funds targeted in wave of attempted cyberattacks

Some of the biggest U.S. hedge funds, including Steve Cohen’s Point72 and Ken Griffin’s Citadel, have been targeted by a wave of attempted cyber attacks. The hacking attempts featured phone calls in which ⁠cybercriminals tried to trick employees into granting them access or handing ​over other sensitive information, according to people familiar with the situation. Reuters notes that the phone call tactic is still widely used by hackers because of ​its effectiveness. Vinod Paul, president of Align Managed Services, which specializes in helping hedge funds with cybersecurity and information technology, said AI tools are helping bad actors launch attacks relatively cheaply and more broadly. “Before they could attack 50 entities in a targeted attack, now they can do 1,000 . . . Hackers can also listen into a phone call and mimic the voice, tone and phrasings of the speakers to create fake calls,” Paul said.

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Risk Channel
UK/Europe
UK regulator relaxes IPO rules

The UK's Financial Conduct Authority (FCA) has introduced immediate reforms to simplify listing rules, as the City watchdog looks to revitalise London's stock market. Key changes include removing the mandatory seven-day waiting period between publication of an approved prospectus and associated investment research, allowing issuers and their advisers to respond more quickly to market conditions. The FCA said the reforms are intended to improve the efficiency and competitiveness of UK capital markets while maintaining investor protections. Jon Relleen, director of infrastructure and exchanges at the FCA, said: "By making the UK listing regime more efficient, we are supporting the growth and competitiveness of UK capital markets." Inigo Esteve, partner at law firm White & Case, said the "sensible, targeted reforms . . . remove unnecessary friction from the UK IPO process," adding that the changes "demonstrate the FCA's continued willingness to refine the regulatory framework where it can improve the efficiency and competitiveness of London's public markets."

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