Third-Party & Supply Chain

Körber to Acquire TMS Provider MercuryGate, Expanding Their Supply Chain Solutions Portfolio

Körber Supply Chain Software announced on August 6 that they have reached an agreement to acquire MercuryGate International Inc., a leading provider of transportation management systems (TMS). Körber, already a global leader in end-to-end supply chain software solutions, is poised with the acquisition to expand their capabilities in delivering comprehensive, innovative, adaptable, and scalable supply chain execution offerings.

Strengthening KYC through Integrated Third-Party Risk Management Practices in Financial Institutions

Banks and investment firms face a multitude of risks - from financial and regulatory to reputational and legal. To address these challenges effectively, institutions must have a comprehensive understanding of not only their internal risks, but also the risks presented by their third-party vendors, suppliers, and clients.

Navigating Supply Chain Risks: The Imperative for Resilience Amid Disruptions

In the grand, unpredictable theater of global commerce, supply chains are the delicate threads that hold the whole show together. But lately, it seems like these threads are fraying, snapping, and occasionally tying themselves into impossibly complicated knots. With shipping routes turning into obstacle courses and third-party services acting like temperamental divas, the need for resilience in supply chains isn’t just a trendy buzzword—it’s a matter of survival.

E-Commerce Giant Held Liable for Third-Party Seller Products: A Wake-Up Call for Platform Oversight

The U.S. Consumer Product Safety Commission (CPSC) has ruled that Amazon.com, Inc. is legally responsible as a "distributor" for hazardous products sold by third-party sellers on its platform. This ruling, issued on July 30, 2024, sends a clear message to e-commerce platforms about their accountability for third-party risk management and product safety compliance.

Federal Regulators Launch Initiative on Bank-Fintech Partnerships & Third-Party Risk Management Amid Growing Concerns

The Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) have jointly unveiled a multi-pronged approach to address the rapidly evolving landscape of bank-fintech partnerships and associated third-party risks. This initiative includes a detailed statement on potential risks and effective risk management practices, coupled with a Request for Information (RFI) seeking broader input on these complex arrangements. However, the approach has sparked debate within regulatory circles, highlighting the challenges in balancing innovation with prudent oversight.

EU Directive on Corporate Sustainability Due Diligence Enters into Force

The European Union's Directive on Corporate Sustainability Due Diligence (Directive 2024/1760) officially entered into force today. This significant piece of legislation aims to foster sustainable and responsible corporate behavior by ensuring that companies identify and address adverse human rights and environmental impacts throughout their operations and global value chains.

The Organization: An Interconnected Web of Relationships

"No man is an island, entire of itself; Every man is a piece of the continent, a part of the main." - English Poet John Donne's Devotions Upon Emergent Conditions (1624) found in the section Meditation XVII.