REGULATORY WATCH
How do you define regulatory watch?
Firstly, regulatory watch is an activity that consists in identifying, on a day-to-day basis, the legal texts applicable to an organization.
Secondly, it involves monitoring the evolution of these texts: new, amended or repealed texts.
Legislative production can be national, European or international. And the regulatory fields covered may be in the HSE field: Environment, Health & Safety, Energy, Food Safety, Transport, etc., but also other rights such as HR, Finance, Data Protection, Commercial, etc.
What do companies need in terms of regulatory intelligence?
Coping with regulatory pressure or anticipating change are often the challenges of setting up a structured regulatory watch.
The aim is to be informed in real time of regulatory changes specific to the company’s activity (and also in the event of a change in activity):
- new applicable text,
- modification of an existing text,
- repeal of a text,
- draft new text
CONFORMITY OR CONFORMITY ASSESSMENT
Mise en place d’une veille réglementaire automatique et centralisée puis évaluation de la conformité :
After monitoring, we define the process to be put in place to comply with these applicable legal requirements. This is called compliance.
The aim is to assess the conformity of installations, processes, infrastructures, etc. for each applicable requirement, and to rule on compliance.
The regulatory compliance audit is a tool for assessing a site’s compliance with the regulatory requirements applicable to it, as determined during the prior regulatory watch process.
The aim of a regulatory compliance audit is therefore to assess compliance or possible non-compliance with a requirement, and to propose corrective and improvement actions for the site concerned.
This assessment enables the company to better manage and steer all its activities in line with applicable regulatory requirements, and to be fully aware of its level of compliance with regulations, standards and Group requirements.
Companies’ compliance needs
Examine the Site’s compliance with applicable regulatory requirements.
In the event of non-compliance, Sites must be able to demonstrate that they have credible Action Plans in place to deal with inspections by the authorities or in the event of an accident.
What’s the practical application?
Regulatory monitoring and compliance are sometimes used as the basis for an HSE strategy, or for ISO 45001 and ISO 14001 audits. These two processes are essential to a sound HSE strategy, especially for industrial companies.
Use cases of our NV Compliance tool for regulatory monitoring and compliance
Use cases in
To find out more about regulatory watch?
Comment réussir sa veille réglementaire en 5 étapes?
Comment bien choisir son outil de veille réglementaire