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Removing a Compliance Rule Can Create Its Own Compliance Risk
📝Editor’s Note
Regulatory change is continuing to create a practical challenge for compliance teams: keeping controls current when rules, reporting duties and enforcement priorities can change quickly. The latest EPA proposal is a useful reminder that compliance planning must account for both new obligations and rules that regulators may remove or revise.
📊Featured Analysis
EPA Proposes Removing Offshore Seafood Discharge Requirements
The US Environmental Protection Agency has proposed removing the National Pollutant Discharge Elimination System permit requirement for offshore seafood processors. The current permits cover 79 processors and set limits on seafood waste, washdown water and sanitary discharges into federal waters. They also require measures such as grinding certain waste before discharge and maintaining records on waste volumes and other conditions.
The EPA estimates that ending the permit requirement would save processors about $1.7 million in annual compliance costs, with an additional $50,000 in administrative savings for the government. At the same time, the agency acknowledges that removing the permits would reduce its ability to monitor discharges and collect information on compliance.
The proposal is open for public comment through October 19.
Key takeaway: Regulatory compliance is also about tracking proposed rule changes and assessing how they could alter existing controls, reporting and monitoring duties.
✅ Best Practice Spotlight
Keep Regulatory Change Management Current
Maintain a central register of laws, regulations and regulatory proposals that affect the organization.
Assign responsibility for monitoring changes in each major regulatory area.
Record proposed changes separately from rules that are already in force.
Assess how a proposed change could affect policies, controls, reporting and contracts.
Document decisions made after reviewing a regulatory development.
Set review dates for proposals that could materially affect the business.
Keep evidence showing when relevant regulatory changes were reviewed and acted upon.
🛠️ Tool of the Week
LogicGate Risk Cloud
LogicGate Risk Cloud is a no-code GRC platform that can be used to manage risks, controls, compliance activities and other governance processes. Planet Compliance's comparison of LogicGate alternatives is useful for understanding if LogicGate fits your needs and what are its closest alternatives to consider.
Evaluation criteria include:
Risk management: Helps organizations identify, assess and track risks.
Workflow automation: Automates processes for compliance and risk teams.
Control management: Supports control mapping across different compliance requirements.
Reporting: Provides dashboards and reports for monitoring risk and compliance activity.
No-code design: Allows teams to build and adjust GRC processes without traditional coding.
🌟 Leader Spotlight
Howden
Howden has launched a dedicated US Sports & Entertainment practice, appointing Robbie Henderson to lead the division from New York. The new unit will connect Howden's US operations with its global Sports & Entertainment network, which includes about 400 specialists across 23 countries. The business will advise touring artists, promoters, sports franchises, talent agencies and production companies on risks that can span event cancellation, broadcast rights, non-appearance, prize indemnity and public liability. The move follows Howden's recent expansion in the US specialty market, including its acquisition of California-based contingency agency Gravitas Insurance Agency.
📚 Recommended Reading
🗳️ Your Compliance Take
