Tag: compliance

Australia pledges $566 million in push for digital business compliance

SYDNEY (Reuters) – Australia said it will spend A$800 million ($566 million) on measures to help businesses take their administration and regulatory compliance online, citing higher demand due to changes brought by the COVID-19 pandemic.

The federal government said it would spend A$420 million coordinating Australia’s more than 30 company registers and put them online, “allowing businesses to quickly view, update and maintain their business registry data in one location”.

It would also spend A$257 million to expand a digital identity system for people interacting with the main government internet portal, including a permanent “director identification number” to help prevent “phoenix” activity where people avoid liability by shutting down one failed company and setting up a new one to carry out the same business.

The government said it would allocate the funding when it delivers its annual budget on Oct. 6. It usually unveils the budget in May but delayed

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LMS365 Transforms Compliance, Security and Technology Training for Government Sector

EDGEWATER, Md. and AARHUS, Denmark, Sept. 22, 2020 /PRNewswire/ — LMS365 reached 100% growth in the government sector in the past year due to the increasing demand for simple, easy-to-access training, the company announced today. Providing a learning management platform built directly into Microsoft 365, LMS365 is transforming how government agencies deliver, track and report on training to employees within their existing IT infrastructure and tools.

Click to Tweet: As municipalities’ need for training increases, @lms365 sees exponential growth: https://tinyurl.com/yxsnwo5o #digitallearning

Across local, state and federal government organizations, compliance and regulation requirements continue to grow as workforces become more dispersed with the rise of remote work. To ensure that employees at all levels of the organization receive access to necessary training and learning, these organizations need a centralized approach that fits into their regular workflows. LMS365 is available in Microsoft’s Government Community Cloud (GCC) Public and GCC High

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PortfolioAid and VigilantCS Form a Strategic Compliance Technology Partnership to Tackle Client-Focused Reforms (CFRs)

Canadian RegTech solution providers, PortfolioAid and VigilantCS, have formed a strategic partnership to help Canada’s wealth management industry tackle client-focused reforms (CFRs) with award-winning technology. Under CFR, firms must comply with new conflict of interest provisions by June 30, 2021, and new KYP/KYC suitability obligations by Dec. 31, 2021.

“Both firms automate and digitize core CFR controls to support wealth management firms, decreasing cost of compliance and improving evidence of compliance,” says VigilantCS CEO and Co-founder Rob Kirwin. “Together, we offer targeted and effective technology that provides insight into a broader set of compliance behaviours, improves efficiencies, and reinforces confidence.”

Notes PortfolioAid President Sam Webster, “PortfolioAid’s business focus has always been on providing solutions that improve financial, regulatory, and reputational outcomes for its clients. Wealth management firms can be confident they can satisfy CFR with PortfolioAid and VigilantCS because they will be able to draw on the combined knowledge, experience

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How a compliance mindset undermines antitrust reform proposals

Facebook CEO Mark Zuckerberg speaks via video conference during an Antitrust, Commercial and Administrative Law Subcommittee hearing, on Capitol Hill, in Washington, Wednesday, July 29, 2020, on "Online platforms and market power. Examining the dominance of Amazon, Facebook, Google and Apple" No Use UK. No Use Germany.

The CEOs of America’s most powerful technology companies went before Congress recently to answer questions about their growing role in the U.S. economy. Lawmakers grilled the CEOs on their business practices and whether it is time to curb their companies’ market power. But for antitrust to work in the digital era, it must go beyond its traditional focus on market power to consider questions of public interest.

For years, technology ethicists have considered how to square the interests of major companies with the interests of society as a whole, and recent approaches to ethics in the technology industry provide a cautionary tale for antitrust policy. Our data ethics research shows that Big Tech companies tend to approach challenges from the perspective of compliance: that as long as a company ticks the boxes on a checklist, it is in the clear. While checklists can highlight concerns, they do not necessarily lead

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