Risk Management

What is a privacy policy and what should it contain?

Briefly, a Privacy Policy is a statement that specifies how a data controller collects, stores, processes the personal data provided by the users of a website. As required by the EU General Data Protection Regulation (GDPR) data controllers should provide certain information to individuals whose personal data is held and used for specific purposes. The definition of personal data includes names, addresses, IP addresses, telephone numbers, date of birth, and financial information, such as debit or credit card details. The GDPR emphasizes that you should be clear about how you…

COVID-19: New grants for businesses affected by local lockdowns

On 9 September 2020, Ministers announced new funding to support businesses that have been forced to close temporarily due to local COVID-19 related lockdowns. To be eligible for the grant, a business will have been required to close due to local COVID-19 restrictions. Businesses still closed at a national level (e.g. nightclubs), will not be eligible for the scheme. Larger businesses will receive £1,500 every three weeks they are required to close. Smaller businesses will receive £1,000. For this purpose, the level of support will be defined as follows: If…

Checking all your T&Cs match up to the new normal

Companies should prioritise risk management in their approach to business and review their third-party relationships and contracts as the coronavirus pandemic continues. While the degree of disruption to supplies and staffing has settled since its initial peak, it is still fragile, and the future uncertain.  Staff are engaged in new ways of working and supply chains continue to experience pressures outside their control. With the pandemic reaching into every aspect of business, it is important to review practices, policies and processes to be sure they match up to the new…

New protection for innovators with launch of digital asset fingerprinting

A new online digital fingerprinting service has been launched to help protect designs and innovations from copycat misuse. The World Intellectual Property Organisation’s new online business platform – known as WIPO PROOF – is designed to safeguard intellectual assets by creating date and time-stamped digital fingerprints when information is uploaded. Owners of the assets receive tamper-proof evidence to safeguard every stage of the development cycle through to commercialisation.  The aim is to speed up any subsequent litigation over copyright, design or patent, by recording and confirming each stage.   The platform…

Covid-19: Business continuity and risk management: part 2

This the second part of a two-part blog about business continuity plans (BCP) and the changing risk landscape. Read part one here. Why have a BCP? The whole point of a well-planned BCP is so that a business can continue its operations during an incident or disaster, hopefully uninterrupted. Or if the business is disrupted, then the BCP should help to minimise the issues and keep the arteries of the business functions flowing. Key contacts will need to be calm and work methodically in any crisis and communication will be…

Covid-19: Business continuity and risk management: part 1

"Since 2001, in my varied role at the firm, I have helped the partners to manage the risks of compliance and operations. Business continuity is always there at the back of your mind, but Covid-19 has been a game-changer in risk terms . . .", commented David Downham, Practice Director and Risk Manager at Bowling & Co. Let's start with some background on risk management and planning. Business continuity is a key phrase often quoted whenever a business, large or small, contemplates updating or testing their disaster recovery plan -…

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