Reg-Impact is a new product used to manage rule assessments and compliance for your organization on a real-time basis.
You can select which individual rules your company needs to assess for compliance as soon as they are published. You can filter so you only see a subset of rules, relating to selected regulators, countries or rule-types.
Reg-Impact allows you to review existing rule summaries and web-links for over 200 regulators from the Reg-Track system, to see their relevance to the firm. These include rules at the proposal stage, as well as final rules.
Where required, you can include your own internal company 'rules', even where these are not publicly issued by a regulator, to keep all your open items on a single system.
Get notified if the rule is changed or edited by the regulators, without having to set up a new entry, and ask the subject experts if the change affects the company.
Manage all your company’s impact assessments, easily see summaries of compliance processes required for each rule, including internal communications and responses from your staff.
The records are easy to search and customize for your firm structure and business. You can change the risk levels, due dates, status, and ask questions on open assessments.
Each assessor will only access the specific rules allocated to them, where Administrators will be able to see all rules, and be able to filter these. Your company can add their own risk Levels,
You can export any sub-set of rules, with all your company’s comments, and details of the rule summary, into Excel or take an electronic file.
When you pick the rule you want to allocate, you can easily send it to the subject matter expert and add your own message and due-by date.
You can allocate to anyone in your organization, to one or many experts, or to a department. You can easily set up your company structure on the system for the purpose of allocating rules.
The assessor will receive a standard format summary of the rule by Reg-Room LLC experts, as part of an impact assessment form.
The recipient will be sent a standard impact-assessment form, to determine the steps the company will need to take to comply, including setting risk level, and any intermediate due dates for these steps.
The administrator will be notified when an assessment is received, and can ask question on the proposed implementation, which are captured in the system
Our unique tracking system, will allow you to keep only the agreed status and tasks, while easily accessing all prior versions so you can keep a full audit trail.