Mitigating Drug Shortages via a Quality Management Rating System is Viable: New Study
The longstanding ‘safe and effective’ regulatory approach to assure Americans their drug products meet a high standard of quality remains effective. However, the pharmaceutical industry needs an additional apparatus – a quality rating system – to address recent supply shortages that are attributable to deficiencies in manufacturing practices, says Maryland Smith’s Clifford Rossi, a risk management expert. Think CMNS nursing home ratings and CARFAX® car history reports, he adds.
Climate Finance Risk Management Virtual Bootcamp Dovetails with SEC Proposed Disclosure Rules
The Securities and Exchange Commission’s recently proposed updated rules for public companies to report the climate-related impact of their businesses to the federal government and their shareholders. While the commission collects public comments on the proposal up to June 17, the University of Maryland has crafted a Climate Finance and Risk Management Bootcamp (June 23 and 30) geared to mid-career and senior professionals across industries, who increasingly weigh climate-change factors into business decisions and financial disclosures.
UMD to Present Climate Finance and Risk Management Bootcamp
As climate change increasingly affects business decision-making, risk managers, financial analysts and other leaders must anticipate how weather events may impact their growth outlook, estimate how port taxes may increase because of rising sea levels, develop contingencies for supply chain disruptions and respond to the unexpected.
Senbet Recognized for Contributions to Ethiopia
Maryland Smith finance professor Lemma W. Senbet received the Ethiopian Crown’s Victory of Adwa Medal for his contributions to his native country. Senbet, an expert and leader in economic policy in Africa, is the William E. Mayer Chair Professor of Finance and the founding director of Smith’s Center for Financial Policy.
Inflation’s Root Cause and Downside of a ‘Windfall Profits Tax’
The consumer price index’s 7.9 percent increase over the past year “is excessive inflation” and “primarily the result of unnecessary fiscal stimulus ($1.9 trillion American Rescue Plan Act)” that has been “bolstered by excessively accommodative monetary policy by the Federal Reserve,” said Maryland Smith’s Michael Faulkender in opening remarks to lawmakers in an April 5, 2022, Senate Budget Committee hearing titled “Corporate Profits are Soaring as Prices Rise: Are Corporate Greed and
Short-term funding markets provide essential short-tenor financing for banks, dealers, and nonfinancial firms. They also play a central role in monetary policy transmission. These markets have experienced substantial funding stress and investor runs during the 07-09 financial crisis and the recent Covid-19 market turmoil, destabilizing the financial markets and beyond.
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Maryland Smith’s Rossi Selected for FDA Committee
Maryland Smith finance professor Clifford Rossi has been selected by the Food and Drug Administration to serve on its Pharmaceutical Science and Clinical Pharmacology Advisory Committee.
What Losing SWIFT Network Access Means for Russian Banks
With Moscow’s invasion of Ukraine intensifying, the United States and several key allies moved to cut Russia off from much of the global financial system – barring select Russian banks from participating the SWIFT global finance network.
2022 is shaping up to be another challenging year for the world, which is keeping risk management at the forefront of executive-level conversation. As businesses and governmental agencies learn to navigate the vast challenges of accelerating inflation, market volatility, geopolitical instability, COVID-19, supply chain disruptions, and labor shortages, organizations must take a strategic and risk-based approach to enterprise-level decision making. Importantly, risk managers must not operate in silos, and instead work to integrate with other key management functions.
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