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Utilizing regulatory information for business advantage

Niklas KoskimiesPartner

9.11.2016

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Corporate Social Responsibility• Standards are the measure stick of quality• Legal monitoring is tedious, prone to errors• The new versions are stricter – harder to achieve• Continuous improvement - cannot be satisfied what you

have

NIKLAS KOSKIMIES 9.11.2016

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• Partly doing things right, partly doing the right things• Avoiding business risks, avoiding image risks• Keeping business compliant – keeping business legal• Adapting to political and social pressure

Operative Regulatory Monitoring

NIKLAS KOSKIMIES 9.11.2016

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Old School vs. New School

• Now the whole staff is responsible for achieving the goals

• In good old 2000 you had an Excel to list the requirements• In good old 2000 you had

quality manager to do the work• In good old 2000 your

audits concentrated on errors on lists

• Now you need an application and constant achievability

• Now they talk about processes and people

NIKLAS KOSKIMIES 9.11.2016

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Legal Information as a Service• It is not about lists anymore – content first• Sources are numerous• System also for soft law

• E.g. industrial standards, insurance companies, distribution contracts, labelling

• Tendency to regulate more instead of less

NIKLAS KOSKIMIES 9.11.2016

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Legal Landscape analyses• Where are we coming from?• Where are we now?• What is required from us?• Are there room for malicious or favourable

interpretations?• Who is pulling the ropes?

NIKLAS KOSKIMIES 9.11.2016

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• Identification of key elements (essential requirements)• Understanding obligations to the industry• Assessing the impacts to the value chain• Impacts to new entries or substitutes• …and don’t forget your customers.

Risk assessment

NIKLAS KOSKIMIES 9.11.2016

Trending #regulation #interpretation• Legal base and regulatory targets • Advancements on those targets• Development on the agendas• Recent cases• (Political pressure)

NIKLAS KOSKIMIES 9.11.2016

Opportunities and Threats• Identify the most essential• Be precise and on the point• Call them by a name• Adapt the strategy• Survive and excel

NIKLAS KOSKIMIES 9.11.2016

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• If business environment changes, business changes, its value changes• Regulation might have positive and negative impacts• Uncertainty increases the perceived risk• Tougher requirements raise initial investment costs

– but might lead higher income due less competition.• New measurement or reporting obligations raise the

running costs

Quantifying the Qualitative – micro perspective

NIKLAS KOSKIMIES 9.11.2016

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Quantifying the Qualitative – macro perspective• Economic Development• Impact on consumption• Impact on investments• Impact on income• Other markets

• Legal effectiveness• Achieving its goals• Efficiency in doing so

NIKLAS KOSKIMIES 9.11.2016

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Niklas KoskimiesPartner, Regulatory Affairsniklas.koskimies@eurofacts.fi+358 50 563 6467