The Eversheds Regulatory Diagnostics Service

It seems that every day, new regulatory liabilities, reporting obligations, penalties for existing liabilities, codes of practice and guidance documents are created. This means that regulatory costs are the fastest rising costs that businesses face, and keeping track of these issues presents an almost intolerable burden.

The problem is that organisations who breach regulatory laws are committing criminal offences. This can lead to criminal sanctions where significant fines can be imposed. Company directors can also be prosecuted if offences are committed with their consent, support or due to their neglect.

You need to ask yourself:

• Do I know what regulatory laws apply to me and my company?
• Do I know if I am complying with them or not?
• Do I know how to achieve compliance?
• Warns you about potential pitfalls
• Do I know the penalties associated with non-compliance?

Regulatory risks are increasing, more prosecutions are being pressed by the regulators, and fines are dramatically on the increase. The highest fine in 2004 for a health and safety breach was £700,000 (and no-one was injured in this case). Individuals within organisations are also being prosecuted with charges as severe as manslaughter in some cases.

• Identify current and proposed regulation your organisation faces.
• Identify the risks associated with these regulations.
• Analyse your current systems of internal control and regulatory risk management together with a detailed statement of the gaps and deficiencies - not only to achieve the minimum legal requirements, but also to meet your individual needs.
• Finally, we work with you to put in place remedial measures - no matter what these may be.

Undertaken by our team of experienced regulatory lawyers, the service provides you with the answers to all your questions. You will understand your organisation’s regulatory weaknesses and what measures you need to take to bring them to the standards required.

The service can be phased and is totally flexible. Some of our clients prefer a gap analysis but then put in place remedial measures themselves. Some clients want limited studies in relation to a few regulatory areas where they might have specific concerns, such as health and safety, data protection, money laundering or tax compliance.

• can learn about your organisation and its particular requirements
• give advice about the resource commitment required
• provide indications about costs.

We will attend this scoping meeting free of charge on an entirely no commitment basis so that you can judge the potential value of the services you might be acquiring. Often our clients tell us that these scoping meetings provide real value in themselves.

To arrange your scoping meeting, contact Steven Francis on 0845 497 0925 (International: +44 20 7497 9797), or e-mail stevenfrancis@eversheds.com or fill in your details below.