Federated Hermes

1. Data Security and Privacy Risks: Federated Hermes stores and transfers personal information, which makes the company vulnerable to data breaches and cyber attacks. This could lead to the loss or theft of valuable data or confidential information, as well as the potential for identity theft.

2. Licensing Risk: Licensing agreements must be kept up to date and properly administered. Failure to do so could lead to fines or even a suspension of the company's operations.

3. Liquidity Risk: Federated Hermes may face liquidity risk if its investments are not properly managed. This can lead to an inability to meet financial obligations or respond to potential opportunities.

4. Reputational Risk: Reputation risk occurs when a company's reputation is damaged due to mistakes, scandals, or other negative events. As a result, market trust and investment confidence in the company may be damaged and overall profitability may be affected.

5. Regulatory Risk: Regulatory changes in the financial industry or shifts in government policy can create a difficult operating environment. Federated Hermes must be prepared to meet any new requirements or face the potential consequences.