.jpeg)
Responding to potential non-compliance
Non-compliance with regulatory requirements, even if unintentional, can be costly in terms of time, money, and reputation. When a potential non-complinace occurs, the worst thing that can be done is nothing. This is time to get on the front foot by dealing with any immediate issues, identifying cause(s) of the potential non-compliance, implementing measues to prevent the potential non-compliance from occurring again keeping the regulator(s) in the loop.
This can be a daunting task, regardless if is the first time or the hundredth. It makes sense to get help from JSRS as we understand how regulators think and what they expect.
Services offered include...
Reviewing proposed actions
Mature regulators will ask your business to "show cause" before making a final decision on regulatory action. The response to this can make a huge difference to the final outcome.
Internal investigations
For internal purposes or to get a head start on regulatory investigations, an internal investigation can identify incident root causes, system issues, and potential liabilities.
Assistance & Advice
Providing expert assistance and advice to improve the relationship with the regulator and manage regulatory requirements.
Developing undertakings
An enforcable undertaking are an increasingly popular response to non-compliance, avoiding lengthy and expensive court hearings.
Advocacy
Having someone in your corner that understands how regulators talk and think AND wanting to secure the best outcome for your business.
Expert witness
When the worst happens and your business is being prosecuted by a regulator, expert testimony can greatly assist to minimise liability.