Trusting Mindcrest with Regulatory Mapping can save your legal or compliance team the stress of trying to keep up with ever-changing requirements.
What is Regulatory Mapping?
Regulatory Mapping involves identifying applicable laws, matching them to your business activities and identifying what you must do to comply with those laws. However, Regulatory Mapping is not just a one time task. Laws change constantly, at different times and in multiple States or countries.Why Regulatory Mapping is Important
When laws change you may need to take action quickly. For example, many organizations with a presence in the European Union needed to amend their contracts when GDPR first took effect and then again as new requirements were added through amendments such as the use of new Standard Contractual Clauses. The legal or compliance function will also benefit from a holistic look at laws and regulations affecting the business across multiple countries, so it can identify the right internal or external resources to take appropriate action to comply with those laws. Failure to do so can subject a company to penalties, fines and other negative consequences for non-compliance.How Mindcrest Provides Regulatory Mapping
Mindcrest keeps legal research current with a mixture of subject matter experts and technology. We use technology so that our research is kept up to date. If a law changes, Mindcrest makes you aware of that change so any necessary action can be taken. We identify and then track the sources of new laws by using web-crawling technology to regularly update this database. Using our offshore and onshore legal teams, we are able to monitor and review the technological outputs, tracking around the clock at cost-efficient rates. We then compile these outputs into easy-to-read summaries delivered to the client on a regular basis and provide comprehensive project management, timely reporting and rigorous quality control.
Whether it’s a Global Legal Research Provider or a leader in Information Services, Mindcrest’s proprietary process helps organizations stay ahead of the curve with many benefits, including:
- Helping clients map internal policies to relevant regulations
- Identifying key risks and gaps
- Creating and maintaining an up-to-date repository of applicable laws specifically designed for your organization
- Providing easy-to-read summaries and reports for your legal team to digest
How Mindcrest Can Assist You
Whether your organization is looking to understand the regulatory challenges and risks of entering a new market or trying to keep track of ever-changing regulatory requirements, Mindcrest can deliver a solution that works for you. To learn more about how we can help you navigate the laws and regulations applicable to your company, contact George Hefferan here.
