Legislative & Regulatory Tracking

Maintaining oversight and control of legislative and regulatory updates is now easier than ever with Skypiom Compliance’s legislative & regulatory tracking capability. 

Standard Notices may already be published on Skypiom Compliance via the Mandatory Notice module, one of the five pillars of the system. Once a Notice has been issued, the system tracks which users have read and acknowledged the Notice.

Taking this functionality one step further, Skypiom Compliance can also disseminate, manage and track legislative and regulatory updates that originate from outside the company. To illustrate, this overview leverages a LexisNexis subscription as a legislative and regulatory source.

When a legislative and / or regulatory change takes place, Skypiom Compliance automatically sends a Notice to the user, subsequently tracking whether they have read and acknowledged the Notice.

Parameters

Legislative and regulatory updates comprise various features and flexible options:

Automated: the system automatically sends Notices when legislative and / or regulatory changes occur

Choose to track any number of ±468 Acts, specified for each user

Optionally enforce historic Notices - up to 10 years - for new users

Set how many days a user has to read a Notice before becoming non-compliant

Detailed reporting, including whether recipient users have read the Notice

Legislative notice

Key Differentiating Factor

The core challenge with legislative and / or regulatory tracking is that notifications are sent to users via email. This translates to users often overlooking the notifications, especially if they are caught by a spam filter. Lastly, there is no proof that a user has actually read the notification.

 

Skypiom Compliance remedies this shortcoming by requiring users to digitally sign the Notice to confirm they have read it. In addition, unread Notices will prompt automatic reminders to be sent to the user. This workflow provides unequivocal evidence that a user has indeed acknowledged a legislative and / or regulatory change.