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Cyber-Insecurity: Will the Looming Regulatory Crackdown on Cybersecurity Practices Help Protect Financial Institutions from Attack?
A slew of new regulations targeting the cybersecurity practices of financial institutions will come into effect during 2022. But will they have any real bearing on protecting financial firms from attack?
Recent attacks on critical links in our technology, energy and financial services supply chains have exposed alarming vulnerabilities in our infrastructure and thrust cybersecurity concerns to new heights. Sophisticated attackers, once focused on stealing personal and financial data, now appear determined to cause wide-spread disruption to operations and supply chains.
The number one issue worrying financial executives today is cybersecurity, according to the Deputy Secretary for the U.S. Treasury, Wally Adeyemo, and particularly the risks posed by third-party service providers. And for good reason. For instance, Microsoft recently discovered that the SolarWinds attackers have been targeting technology companies, including those that manage or resell cloud-computing services. As financial firms increasingly pursue outsourcing arrangements and move operations to the cloud, these concerns will only intensify.
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Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.