Insights

Reg BI and Form CRS: Are you prepared to evidence compliance during your next exam?

The June 30, 2020, Regulation Best Interest (Reg BI) and Customer Relationship Summary (Form CRS) compliance date has come and gone.

If you are a broker-dealer, you must satisfy the four component obligations — care, disclosure, conflict of interest and compliance — in order to fulfill the best interest standard. And, if you are a broker-dealer or registered investment advisor (or both) you should have developed and provided a Form CRS to your retail customers.

9/30/20
By: Kathy Enbom
Industries: Financial Institutions, Financial Services

Overworked and underappreciated? Common pitfalls for financial institution ISOs

In consulting with financial institutions, we’ve seen a lot of the pitfalls that can prevent a security program from being successful. Information security officers (ISOs) face any number of pain points and frustrations that can hinder their ability to protect their organizations.

9/29/20
By: Mike Morris, Jim Rumph
Industries: Financial Institutions
Services: Consulting, Cybersecurity

What financial institutions need to know about their cloud tech’s shared responsibility model

As cloud technology becomes more and more widespread among financial institutions, security is a growing concern. And the COVID-19 pandemic has only spiked the amount of cyberattacks against financial institutions as employees continue to rely on cloud technology to work from home.

9/29/20
By: Austin Lentz
Industries: Financial Services

It’s not a short list: Financial institution ISO roles and responsibilities

Cybersecurity threats are constantly evolving, and financial institutions are a prime target. Protecting customer data and financial transactions is a critical responsibility.

9/28/20
By: Mike Morris, Jim Rumph
Industries: Financial Institutions
Services: Consulting, Cybersecurity

3 risks of going with the low-cost SOC audit provider

If you’ve started to research SOC audit providers, you’ve probably noticed right away that one of the biggest differences between them is price. Some SOC auditors are priced much lower than others. Why is that? Are higher-cost providers delivering things that low-cost providers aren’t? Are there risks to going with a low-cost provider?

9/23/20
By: Durward J. Ferland, Jr.
Services: Consulting, Governance & Risk, SOC Examinations

5 ways to improve your revenue cycle and limit denials

Hospitals are rethinking their revenue cycle management. From patient access, to accuracy of clinical documentation and coding, to proper reimbursement, hospitals understand that nothing represented on the UB-04 claim form is generated in the business office. They know it all emanates along the continuum prior to bill creation.

9/22/20
By: Mary Lopez
Industries: Healthcare

What is HITRUST, and why does it matter?

Among many security and compliance experts, HITRUST® has become a well-known name with a lot of weight behind it. And that’s for a very good reason. But before we get into why HITRUST is important, let’s talk about what, exactly, HITRUST is.

9/22/20
By: Jacqueline Cooper
Services: Consulting, Compliance, HITRUST CSF compliance & certification

Manufacturers, make your move!

In a recent article by ITR Economics Advisor for August (Itreconomics.com), in big bold letters, the author states "Make Your Move." This headline is followed by their reasoning: "Consider using today's low interest rates to upgrade your technology; this is one way to increase your capacity and efficiency without increasing headcount."

We’re often asked, "What do you think is going to happen the rest of this year and into next year for manufacturers?" While we’re not economists, based on our many interactions with manufacturers from different industries, we usually begin our answer with "it depends." Not as a cop out, but it really depends on what products and markets the client or prospect is in. It's not a one-sized answer that fits all.

9/21/20
By: Joe Girard
Industries: Manufacturing and Distribution
Services: Consulting, Tech Consulting