Deloitte Launches U.S. Center for Regulatory Strategies

Michelle Remo, “Big 4″ observer
March 12, 2012 /

Deloitte has launched its U.S. Center for Regulatory Strategies in the United States, a powerful virtual resource of information and insight on regulatory matters.

The Center features industry and former government agency specialists that can help companies manage the complexity and convergence of rapidly increasing new regulation.

A prime example of such complex legislation is the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is fundamentally changing the way financial services and other businesses interact with federal regulators, manage risk and compliance, and plan for the future. Primarily focused on financial services industry reform and consumer protection, Dodd-Frank extends to companies in other sectors, such as energy and life sciences, among others.

“Businesses across virtually every industry face a wave of new regulation,” said Kevin McGovern, managing partner and U.S. leader of Deloitte & Touche LLP’s governance, regulatory & risk strategies service offering.

“Now, more than ever, business leaders must understand how their companies are accountable to multiple regulatory agencies – some new, many overlapping and sometimes at cross-purposes – in the midst of continuing global economic uncertainty. The Center for Regulatory Strategies helps clients navigate this new and unsettled landscape.”

The Center for Regulatory Strategies combines the strength of Deloitte’s nationwide network of experienced risk, regulatory and industry professionals – including a deep roster of former regulators, industry specialists and business advisors – with a rich understanding of how multiple and converging regulations affect business.

Through the Center, executives can keep a sharp eye on regulatory developments and their implications for specific industries. Timely perspectives and discussion are provided through a stream of in-person and online events and resources, including videos, podcasts, webcasts, publications, and reference materials.

The Center’s team includes many former senior regulators with federal and state government agencies, and provides access to Deloitte’s leading regulatory and compliance practice that comprises more than 500 professionals in the U.S.

As global harmonization of legislation and regulation accelerates, Deloitte can help clients craft regulatory strategies that can be deployed across multiple countries. As part of the Deloitte Touche Tohmatsu Limited global network, Deloitte’s U.S. Center for Regulatory Strategies collaborates with theLondon-based EMEA Centre for Regulatory Strategy, which provides insight on emerging regulatory issues in financial services across Europe, the Middle East and Africa. In this way, Deloitte clients can access a global network of regulatory and compliance specialists.

McGovern adds, “Independent analysts cite and our clients rely on our advice and expertise; continuous access to our experienced team of governance, regulatory and risk specialists; and our ability to deliver services wherever and whenever needed.”

Industry-specific perspective

The Center for Regulatory Strategies provides perspective on emerging regulatory issues in highly regulated industries, including but not limited to:

Financial Services. Financial institutions are adapting to a new regulatory era where compliance needs to be coupled with an understanding of the impending structural changes. Deloitte’s financial services professionals work closely with each client to help build an enterprise-wide compliance infrastructure. Such infrastructure provides a framework to help align operations with laws and rules, especially for new requirements resulting from the Dodd-Frank Act.

Energy and Resources. In periods of energy regulatory change, strategically alert players usually gain, even as less-prepared companies typically suffer through penalties for failing to comply or through poor financial performance from being overly cautious. Deloitte has made a considerable investment in understanding how new requirements are likely to affect its clients.

Life Sciences and Health Care. Life sciences organizations have adjusted through rapidly changing bodies of law and regulations related to health information systems, quality management, supply chain safety, and medical devices. Deloitte professionals offer clients experience in understanding and complying with various federal agencies.

Deloitte is also assisting several federal agencies as they implement new legislation, helping regulators understand the challenges within a particular industry. Bringing a perspective on the complex regulatory challenges from each of the primary stakeholders – industry enterprises and government agencies – uniquely positions Deloitte in the regulatory space.

“As federal agencies extend their reach, it’s no longer sufficient for companies to look at their business through a single lens,” said McGovern.

“The Deloitte Center for Regulatory Strategies can help companies shape a game plan for complying with today’s regulations – and simultaneously assist with preparing for what’s next in order to mitigate future risk – which can help to strengthen their enterprise.”

 

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