The hottest Compliance Substack posts right now

And their main takeaways
Category
Top Business Topics

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/049

RegAlert • 0 implied HN points • 24 May 22
💰 Finance Banking Regulation Risk management Compliance
  1. Financial institutions must comply with the Regulatory Guidelines for the Redesigned Credit Risk Management System.
  2. Enforcement of the 'submit before disbursement' requirement begins on August 1, 2022.
  3. Customer accounts must be in the 10-digit Nigeria Uniform Bank Account Number format by June 20, 2022 to be enrolled onto the CRMS.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/031

RegAlert • 0 implied HN points • 31 Dec 21
💰 Finance Regulations Banks Transactions Compliance
  1. Financial institutions in Nigeria must conduct thorough due diligence on customers before opening accounts and monitor transactions for suspicious activities.
  2. These institutions are required to keep transaction records for at least five years and report any suspicious transactions to the appropriate authorities.
  3. Clients are mandated to provide valid identification and comply with all specified regulations and guidelines when dealing with financial institutions in Nigeria.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/035

RegAlert • 0 implied HN points • 31 Dec 21
💰 Finance Regulations Banking Compliance
  1. Financial institutions in Nigeria must ensure they collect required documentation and identification data from customers to comply with regulations.
  2. All banks should establish and maintain internal control systems to promote compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations.
  3. Institutions need to have trained staff and technological systems in place to effectively comply with regulatory requirements.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/029

RegAlert • 0 implied HN points • 30 Sep 21
💰 Finance Policy Mortgage Compliance Banks
  1. The Central Bank of Nigeria issued a circular listing primary mortgage banks as of September 30, 2021, for financial institutions to comply with the stated requirements.
  2. The list includes various mortgage banks located in different states across Nigeria.
  3. Financial institutions are advised to review the circular and ensure they are in compliance with the regulations.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/14/063

RegAlert • 0 implied HN points • 02 Sep 21
💰 Finance Regulation Banking Compliance
  1. The Central Bank of Nigeria issued new leverage ratio guidelines in September 2021 to ensure financial institutions maintain adequate capital in relation to their risk exposure and activities.
  2. Financial institutions are expected to comply with the outlined principles in the guidelines.
  3. In addition to compliance, timely submission of required reports is crucial for financial institutions.

Alert: Central Bank of Nigeria Circular FPRD/DIR/PUB/CIR/01/020

RegAlert • 0 implied HN points • 19 Aug 21
💰 Finance Regulation Banking Compliance Financial Services
  1. Microfinance Banks in Nigeria are required to adhere to strict guidelines outlined by the Central Bank, including focusing on providing financial services to retail and micro-clients, rather than engaging in foreign exchange transactions.
  2. At least 80% of the total loan portfolios for Microfinance Banks should be allocated to micro credit facilities, as per the Revised Regulatory and Supervisory Guidelines.
  3. The Circular FPRD/DIR/PUB/CIR/01/020 issued by the Central Bank of Nigeria emphasizes the cessation of non-permissible activities for Microfinance Banks.

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/018

RegAlert • 0 implied HN points • 30 Jun 21
💰 Finance Regulations Banking Compliance
  1. The post discusses a circular from the Central Bank of Nigeria regarding a list of Deposit Money Banks as of June 30, 2021, classified based on their licensing authorization and head office addresses.
  2. Financial institutions are required to adhere to the specific list of deposit money banks mentioned in the circular, categorized by their licensing authorization types (international, national, regional) and the locations of their head offices.
  3. The circular emphasizes the inclusion of institutions with commercial banking licenses and international, national, or regional authorizations, providing clarity on the types of institutions covered and their distinctions.

Alert: Central Bank of Nigeria Circular FPR/LAD/CON/BDC/006/100

RegAlert • 0 implied HN points • 23 Jun 21
💰 Finance Regulations Banking Compliance Fees Sanctions
  1. Financial institutions in Nigeria must pay their Annual Licence Renewal Fees by 31st March each year from their operating accounts in the names of the institutions to avoid sanctions.
  2. Payments must be made within the regulatory deadline to be considered for processing by the Central Bank of Nigeria.
  3. Non-compliance with the payment of Annual Licensing Renewal Fees may lead to necessary sanctions being imposed by the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular FPR/DIR/GEN/CIR/01/007

RegAlert • 0 implied HN points • 31 Mar 21
💰 Finance Regulation Compliance Central Bank
  1. The Central Bank of Nigeria issued Circular FPR/DIR/GEN/CIR/01/007 regarding a list of finance companies licensed as of March 31, 2021. Financial institutions are required to review the list and ensure compliance with regulations.
  2. The circular provides a reference for financial institutions to follow with regards to the licensed finance companies in Nigeria.
  3. The document linked in the post contains the specific list of finance companies that financial institutions need to be aware of and comply with.

Safe events

Joshua Gans' Newsletter • 0 implied HN points • 30 Aug 21
🏥 Health & Wellness Events Rapid Testing Risk management Compliance
  1. Rapid antigen tests can help make events safer by reducing the risk of someone infectious attending, but they are not foolproof. Testing before an event and daily can help manage the risk of potential spread.
  2. The use of rapid tests can potentially lead to a sense of complacency regarding social distancing and mask-wearing, so it's important to have a clear plan in place in case someone tests positive at the event.
  3. In the end, having everyone vaccinated is crucial, with testing serving as an additional layer of protection especially in high-prevalence situations. However, there are no guarantees, so decisions should be made based on the specific circumstances.

Generative AI and cybersecurity: governance, risk, compliance and management

Solresol • 0 implied HN points • 08 Jun 24
🕹 Technology AI Cybersecurity Regulation Education Compliance
  1. Generative AI models are becoming more complex and powerful, with potential risk implications as the number of free parameters increases significantly.
  2. There is a divide in the AI community between those who believe in scaling up existing AI technology for superhuman intelligence and those who believe in the need for fundamental breakthroughs before achieving human-level AI.
  3. The use of large language models like ChatGPT has the potential to revolutionize industries by offering cutting-edge research capabilities and automation tools at an affordable price, but also raises concerns about cybersecurity and the need for responsible AI governance.

Miss This Report, and Your Company Can Be "Canceled"

The Founder Memo • 0 implied HN points • 15 Feb 24
💼 Business Taxation Startups Finance Compliance
  1. Always file your Delaware Annual Franchise Tax report by March 1. If you miss it twice, your company can be canceled.
  2. Don't panic if you see a high tax amount on the Delaware website. Use the correct method to potentially lower it significantly.
  3. If you have many authorized shares, you might face high taxes. Consider your issued shares and gross assets for a better tax calculation.

Sort Achieves SOC 2 Type 2 Certification! 🎉

Database Engineering by Sort • 0 implied HN points • 21 Jan 25
🕹 Technology Data security Data Management Compliance Software Development
  1. Sort has earned SOC 2 Type 2 certification, showing they take data security seriously. This means your data is protected and trustworthy.
  2. The certification ensures that Sort meets high standards for security and privacy. This helps businesses feel secure knowing their data is safe from breaches.
  3. With this certification, Sort simplifies compliance for businesses in regulated industries. It makes it easier to manage important data without extra worries.

Industry over caution in new Crypto Executive Order

Alex's Personal Blog • 0 implied HN points • 24 Jan 25
🔮 Crypto Regulation Market Trends Technology Investments Compliance
  1. The new Crypto Executive Order is seen as having a positive impact on the industry. It focuses on providing a clear framework for crypto activities.
  2. This order might promote innovation in the sector by reducing excessive caution from companies. It encourages businesses to engage more proactively with cryptocurrency.
  3. Overall, there is a sense of cautious optimism regarding how this order will shape the future of cryptocurrency regulation and development.

A Smarter Way to Firewall: Microsegmentation

Identity Revive • 0 implied HN points • 12 Feb 25
🕹 Technology Cybersecurity Networking Cloud Computing Data Privacy Compliance
  1. Microsegmentation helps control network traffic at a very detailed level, making it harder for attackers to move around after they breach a system. This means that if one part of the network is attacked, the damage can be contained more easily.
  2. It improves visibility of network activities, letting organizations see what is happening in their systems. This awareness helps quickly spot unusual behaviors that might indicate a security threat.
  3. Adopting microsegmentation supports Zero Trust principles by reducing unnecessary trust across the network. It ensures that only authorized users and applications can access sensitive resources, making it much harder for cybercriminals to exploit vulnerabilities.