In the world of third-party risk management, organizations need to navigate a complex and expanding web of guidance, standards and regulations. Here, you can explore an overview of major industry standards and regulations that can help you ensure third-party compliance and build a more resilient business.
Regulators have made clear that third parties should attest to and align to your compliance, ethics, and risk management standards and obligations. Aravo enables customers to easily capture, update, manage and retain third party attestations and certifications with these regulations and other ethics and compliance standards.
The document acknowledges that cybersecurity incidents involving third-party service provider vulnerabilities are becoming more frequent. The proposed rules require companies to disclose whether they have policies and procedures to oversee and identify the cybersecurity risks associated with their use of third-party service providers. This includes providers that have access to or have information about the company’s customer and employee data.
“The proposed amendments are intended to better inform investors about cybersecurity incidents and the cybersecurity risk management, strategy, and governance of registrants of all types and sizes which are subject to the Exchange Act reporting requirements.”
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