NEST, Railpen plug cyber security advice gap for pension fund trustees

first_imgThe report lists recent cyber attacks and their financial impact, such as the hacking of 380,000 British Airways accounts in September 2018 that led to a $229m (€208m) fine “with a possible £500m (€581m) lawsuit on top”.The document presents case studies on research and engagement carried out on cyber security by some UK pension funds, and suggests questions trustees can put to their asset managers and portfolio companies on the topic.Richard Williams, CIO at RPMI Railpen, the investment manager for the UK’s £31bn (€34bn) railways pension schemes, said: “Trustees need to acknowledge that it is not a matter of ‘if’ but ‘when’ their investee companies will face a serious cyber security breach.“[This] publication provides a toolkit for pension scheme trustees. Companies should be ready for questions from investors, and pension funds need to start raising the topic with their managers.” NEST and RPMI Railpen, two well-known UK pension investors, have moved to fill a gap in the advice available to pension scheme trustees on cyber security risk with a report concentrating on the risk it poses to their portfolios.In a statement announcing publication of the report, the schemes said that while there is guidance for trustees on how to build cyber resilience with regard to the scheme itself and its data, there was to date no equivalent advice for them on how to incorporate cyber security into their investment and stewardship processes.”Generally,” the report states, “little is understood by pension funds about these risks and there is seemingly no obvious common or standardised approach for addressing them.”And yet cyber security risks were financially material and of interest to members and other stakeholders, according to the report, referring to “numerous papers and articles […] citing cyber security as a prominent and growing issue that can have strong, negative implications on investment performance”.last_img read more

Lonzo Ball targets 20 minutes in Lakers preseason debut

first_img Lakers, Clippers schedules set for first round of NBA playoffs Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers LAS VEGAS — It’s been two weeks, Lonzo Ball said, since he’s felt pain in his knee.The hardest thing to deal with in that span has been patience.“Just anxious to get out there,” Ball said Wednesday morning, hours ahead of his preseason debut. “I knew I was gonna play shortly. I’m happy it’s before the season actually gets to start, so I’ll get two practice runs in, then go from there.”The 20-year-old point guard will come off the bench when the Lakers take on the Golden State Warriors at T-Mobile Arena. He’s expecting to play about 20 minutes, including some time with the starting rotation. Lakers practice early hoping to answer all questions AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersNotably, it will be the first time Ball plays with LeBron James, although neither could say for sure how much time they’ll share the floor. It’s likely James’ last game of the preseason (the Lakers also play the Warriors on Friday), and Ball is scheduled to play again Friday.James said he’s not expecting anything dramatic out of Ball, whom he called “Young King” in an Instagram post on Tuesday.“Just being on the floor, there’s nothing to it,” James said. “He plays basketball, he knows how to play basketball, he’ll be excited to get out there, just not looking too deep into a preseason game.”Sign up for Home Turf and get exclusive stories every SoCal sports fan must read, sent daily. Subscribe here.It’s a bit of a trial by fire for Ball, who figures to play some minutes against Warriors point guard Steph Curry.“He’s a terrific shooter,” Ball said. “But for me, just defensively, that’s what I gotta focus on. Just chasing him around trying to get the drop on him.” Newsroom GuidelinesNews TipsContact UsReport an Errorcenter_img Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed After tweaking his hamstring Monday, Josh Hart participated in shootaround with the team. Coach Luke Walton said he’d make a decision at game time whether Hart, who has started two preseason games, will play. How athletes protesting the national anthem has evolved over 17 years Related Articleslast_img read more