First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

E-Commerce

Not-for-profits should leverage information technology, safely

Not-for-profits have numerous opportunities to leverage information technology (IT), from social media to cloud computing and beyond.

 

, , , , , , , ,

Cryptocurrency taxation update

On May 17, 2019, the Department of Finance released proposals to amend the Excise Tax Act (Canada) to treat certain virtual currency as a financial instrument for GST/HST purposes.

 

, , , ,

Common sense talk about risk heat maps and more

Only when the business impact is understood does it make sense to get into the details of which risks to which information assets should be mitigated and how.

 

, , , , , ,

The board and cyber security

There’s another useful article on Forbes. How to talk to the board about cybersecurity is written by an experienced CIO, John Matthews. Here are some useful excerpts with my highlights:

 

, , , , , , , ,

Failure to [Coin]Launch – Caution for crypto-asset consultants, advisers and service providers

CoinLaunch carried on business as a cryptoasset consultant, offering marketing and promotional services to prospective token issuers.

 

, , ,

Cyber and the board

There’s an interesting article in the Harvard Law School Forum on Corporate Governance and Financial Regulation. What the Capital One Hack Means for Boards of Directors has some interesting insights that merit the attention of risk, cyber, audit, and governance practitioners.

 

, , , , , , , , ,

FATF issues guidance on virtual assets

FATF issues guidance on virtual assets

 

, , , , ,

Deceptive marketing in the spotlight: Ticketmaster to pay Competition Bureau penalty of $4.5 million

In a recent article, the Competition Bureau’s focus on high-impact, consumer-focused digital economy investigations, including specifically investigations into drip pricing practices was highlighted. On June 27, 2019, the Bureau announced that its investigation into such practices by Ticketmaster had concluded with a consent agreement.

 

, , , , , ,

Financial Stability Board delivers report on financial stability implications of decentralised financial technologies

On June 6, 2019, the Financial Stability Board (the “FSB”), an international body that coordinates the work of national financial authorities, published a report on “Decentralised financial technologies” in response to a request by the Japanese presidency of the G20.

 

, , , , , , ,

The Financial Services Regulatory Authority of Ontario

Effective June 8, 2019, the Ontario government launched the Financial Services Regulatory Authority of Ontario (FSRA), which is a new independent and self-funded regulator of financial services and pensions that is intended to help reduce regulatory burden, among other things.

 

, , , ,

CSA and IIROC propose regulatory framework for cryptoasset trading platforms

On March 14, 2019, the Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada published Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms proposing a regulatory framework for platforms that trade cryptoassets.

 

, , , ,

Regulation of online advisors: An international overview

The regulation of online advisors, often referred to as “robo-advisors”, continues to be a hot topic in the financial services industry. Online advisors are digital wealth managers which generate investment recommendations and automatically invest and rebalance funds based on an investor’s risk tolerance.

 

, , , ,

Inter-jurisdictional enforcement against cryptocurrency-related financial products

In its first enforcement decision concerning cryptocurrency, the Ontario Securities Commission permanently prohibited USI-Tech Limited from trading in securities or derivatives based on its promotion of cryptocurrency-related financial products in Ontario.

 

, , , , ,

SWIFT publishes cybersecurity counterparty risk guidelines

On February 15, 2019, the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) published guidelines for assessing cybersecurity counterparty risk for financial institutions (the “Guidelines”).

 

, , , , , ,

Hyperventilating about cyber – Part I

It’s hard to see a survey these days that doesn’t include cyber as one of the top risks faced by organizations around the world. But should it be?

 

, , ,

Previous Posts