Compliance with existing regulations combined with systematic regulatory monitoring and internal compliance audits reduces the risk of penalties specifically, EPA audit policies cap your risk of being penalized when a regulation changes, or despite best efforts to comply, you discover a violation in your operations.
EHS Decision-Making in Uncertain Times
The requirement to adjust course is rarely applied retroactively  or suddenly under U. These two areas of risk overlap causally, because failure to comply with current or evolving regulations is both a reliable cause of reputational risk and a major source of such problems.
However, because reputational risk deals in perceptions and stigma, it also requires broader, proactive and preemptive approaches to control messaging. Provided a company has a solid basis of legal compliance in place internally, such external messaging is both effective and within its control. As regulations and public opinion on EHS issues evolve, capital investments or reallocation of assets may be necessary to comply with the law or satisfy market demands. Resource allocation is key to addressing all categories of EHS risks within the growing responsibilities of corporate risk management teams.
Please login through your library system or with your personal username and password on the homepage. Your library may not have purchased all subject areas.
If you are authenticated and think you should have access to this title, please contact your librarian. Don't have an account? Not registered? Sign up.
More Contact us Publish with us Subscribe. Print Save Cite Email Share.
Show Less EU Environmental Legislation Legal Perspectives on Regulatory Strategies New Horizons in Environmental and Energy Law series Edited by Marjan Peeters and Rosa Uylenburg This thought-provoking book offers a cross-cutting debate on EU environmental legislation from a legal perspective focussing on key themes such as regulatory instrument choice, the coherency of law, and enforceable commitments.
Show Summary Details EU Environmental Legislation Copyright Contents Contributors Abbreviations Chapter 1: Aim and structure of this book Chapter 2: The governance approach in European Union environmental directives and its consequences for flexibility, effectiveness and legitimacy Chapter 3: The emergence of the Framework Directive in EU environmental policy: An exploration of its function and characteristics Chapter 4: Seeking coherence among environmental directives Chapter 5: Limits to integration in pollution prevention and control Chapter 6: Everything according to plan?
Achieving environmental quality standards by a programmatic approach Chapter 7: Obligations of result or best efforts: Dealing with problems of interpretation Chapter 8: Instrument mix or instrument mess? With retail customers, the main risk for banks is likely to be reputational. Some banks have stipulated that credit and debit cards may not be used for crypto-asset purchases. This may be for consumer protection reasons.
It may also be for risk management: crypto-assets are often used in criminal activities, and law enforcers following the path of illegitimate transactions will question the facilitation role of whoever comes into that path. Banks may also consider restricting employees from crypto-asset activities. The opportunities and methods of market abuse which exist in the traditional markets also exist in the crypto-sphere. It is a reasonable question whether an employee who engages in practices in relation to crypto-assets which would be abusive trading practices in the regulated markets is demonstrating the level of ethical behaviour which the bank and regulators expect.
As with banks, investment firms are likely to have a longstanding awareness of the roles and responsibilities of boards.
Uncertain Risks Regulated
Investment firm boards need to make sure that, if a decision is made to expand into crypto-asset business, that the regulatory implications of such a move are addressed. Before embarking on any client offering, investment firms which provide regulated services e.
This will be similar to that described above for banks. In the absence of direct regulation of the technologies underlying the assets, investment firms will need to be satisfied that the coding by which the assets have been created works properly, likewise with the DLT network on which the asset is being transferred. Firms will need to be satisfied that the crypto-assets are transferable, can be settled and can be safeguarded.