Compliance Buzz
Tuesday, February 6th, 2007–> Top News
Shift in Daylight Saving might be IT time bomb
Energy Policy Act of 2005 could have huge impact on time-sensitive applications - http://www.itcinstitute.com/info.aspx?id=35119
TJX data breach may impact 30 percent of New Englanders
Banks are still gauging the full extent of damage - http://www.itcinstitute.com/info.aspx?id=35120
US ID theft fell during 2006, but still amounted to nearly $50 Bn
Increased security measures appear to be paying off - http://www.itcinstitute.com/info.aspx?id=35121
AICPA creates new Center for Audit Quality
New organization meant to rebuild the image of the auditing profession - http://www.itcinstitute.com/info.aspx?id=35122
–> Regulation Watch
New EU directive has costly outsourcing implications
EU Markets in Financial Instruments Directive could cost the UK a billion pounds - http://www.itcinstitute.com/info.aspx?id=35123
Maine rebels against Real ID Act
US law that overhauls state ID and licensing system too costly, say local officials - http://www.itcinstitute.com/info.aspx?id=35124
London facing its own version of SOX
8th Company Law Directive on Statutory Audit reminiscent of SOX, fueling the same fears - http://www.itcinstitute.com/info.aspx?id=35125
–> New Research
Botnet pandemic threatens future of the internet
Stealthier botnets and increasing spam already infect a quarter of all PCs - http://www.itcinstitute.com/info.aspx?id=35126
"Megascope" deals replace expensive outsourcing contracts
Trend is to divide the pie among more vendors - http://www.itcinstitute.com/info.aspx?id=35127
Bulky image-based spam swamps servers
Spam volume has more than doubled, but their bulk has more than quadrupled - http://www.itcinstitute.com/info.aspx?id=35128
IT wages rise even as general mood sours
Salaries rose in the last quarter by 3.1 percent, but capital spending faded - http://www.itcinstitute.com/info.aspx?id=35130
–> Analysis and Advice
Seven Strategies for Compliance Change Management
Driven especially by SOX, companies are turning to change management to provide needed discipline for changes to IT infrastructure and systems. To ensure the integrity of systems storing regulated data, as well as the attendant IT policies and procedures, companies are increasingly adopting change management practices. [more]
–> ProsecutionWATCH
NASD fines Banc of America for breaching its own security policies
Noncompliance with anti-money laundry policies brings $3 million fine - http://www.itcinstitute.com/info.aspx?id=35131
Class action lawsuit hits TJX
Firm declines to offer credit monitoring services to victims - http://www.itcinstitute.com/info.aspx?id=35132
FTC moves against noncompliant porn spammers
Nevada firm is fined for not complying with CAN-SPAM and FTC rules - http://www.itcinstitute.com/info.aspx?id=35133
Sony settles with FTC for rootkit fiasco
Music giant will pay up to $150 of compensation to each victim - http://www.itcinstitute.com/info.aspx?id=35134
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