Competence, Conduct, and Billion Dollar Consequences

Download or read book Competence, Conduct, and Billion Dollar Consequences written by Nigel P. Somerset and published by Taylor & Francis. This book was released on 2023-02-21 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This practical guide to understanding how regulators build insight and form judgements will help organisations to develop their strategy and approach to engagement and to improve their regulatory outcomes. From robot-assisted surgery and advances in stem cell technology, the explosion in use of social media and advances in computing power to the development of autonomous vehicles and digital environments such as the metaverse, these exciting developments present questions, invite debate and have implications. These rapid new developments also join a world described as being increasingly VUCA (volatile, uncertain, complex, and ambiguous), making industry-regulator relationships more important than ever to prevent consumer harm and to configure business success. This book is written for those who wish to build positive and progressive relationships with their regulators in these exciting times of rapid advancement. From developing their strategy, through to the practicalities of how to prepare and engage with regulators, readers are navigated through an ecosystem of insight to help build an understanding of what informs their regulator’s opinion and judgements. Underpinned with real-world experiences and examples, this book shows that, through clearer strategic focus and more effective relationships, organisations can refine their approach and build their relationships to drive mutually beneficial regulatory relationships that avoid negative consequences and unnecessary costs. Board members, executives, senior leaders, risk, compliance, legal professionals, regulators, and students of business, finance, and law will refer to this book again and again to guide holistic thinking about regulatory relationships and use the insights these can provide to help them calibrate their actions, activities, and progress.