Risk Management

Risk Management information

Phytopharm stock dives after bomb target broker quits

Shares in drugs company Phytopharm fell sharply after animal rights activists scared off its broker.

Canaccord Capital resigned as broker to Phytopharm yesterday – less than a month after a firebomb attack targeted its European finance director.

A website linked to the Animal Liberation Front claimed responsibility for planting the incendiary device which set fire to Michael Kendall’s car. The ALF says Phytopharm has links with animal testing group Huntington Life Sciences. HSL is a long-standing target for protesters.

A rapidly shifting landscape of risk

Companies today face a rapidly shifting landscape when it comes to risk. The threat of a terrorist attack on an important location, ever more burdensome regulation and the trend towards moving operations to lower cost areas of the world are all shaping the risks that companies face.

Basel Committee issues updated guidance on the compliance function in banks

This update provides basic guidance for banks and sets out banking supervisors’ views on compliance in banking organisations.

Using a framework of principles, the latest update illustrates how compliance with the laws, rules and standards that govern banking activities helps to maintain a bank’s reputation with its shareholders, customers, employees and the markets. At the same time, the paper incorporates sound practice guidance to assist banks in designing, implementing and operating an effective compliance function. To optimise its usefulness to all banks, they stress that a single framework of principles for effective compliance risk management does not restrict individual banks to a single organisational or operational approach. However, each bank must be prepared to demonstrate that the approach adopted is effective in dealing with the bank’s unique compliance risk challenges.

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