Compliance with Regulations Policy
Purpose: The purpose of this policy is to demonstrate the commitment of Elucidate Group to comply with not only the regulatory requirements of Australia but also with relevant international laws and procedures.
Scope: This policy applies to all operations, employees, vendors, and Elucidate Group's processes, regardless of where they are conducted.
1 Adherence to Australian Laws:
Commitment: We commit to fully comply with all Australian legal and regulatory requirements, especially those related to data protection, privacy, and digital operations.
Regular Review: The legal team will conduct quarterly reviews of Australian regulatory updates and share information with relevant departments for necessary action.
2 Awareness of International Regulations:
Research and Education: Whenever Elucidate Group engages in business or takes on clients from a new international region, we will thoroughly review that region's regulatory landscape and relevant teams will be educated.
Dynamic Compliance: Understanding that international laws can vary greatly and may even conflict, we aim to adjust our operations based on specific regional requirements dynamically.
3 Collaboration with Experts:
Local Experts: For complex international engagements, we may collaborate with local legal experts to ensure our operations comply with regional laws.
Training Sessions: Periodic training sessions will be organised for employees, especially those in customer-facing roles, to keep them updated on international compliance requirements.
4 Compliance Monitoring and Reporting:
Internal Audits: Regular audits ensure all business processes align with Australian and relevant international regulations.
External Audits: Third-party auditors may be engaged annually or biannually to provide an unbiased assessment of our compliance status.
Incident Reporting: In the unlikely event of a regulatory breach, a structured process will be in place to report the incident to relevant Australian and international bodies.
5 Vendor and Partner Regulations:
Vendor Compliance: All vendors and third-party collaborators will be assessed to ensure their operations, as they relate to our engagements, comply with Australian and relevant international laws.
Contractual Commitment: All contracts with vendors, partners, and clients will contain clauses requiring adherence to applicable regulatory standards.
6 Continuous Updates and Feedback:
Feedback Mechanism: We will establish a feedback mechanism for employees and stakeholders to report potential compliance concerns or suggest improvements.
Regulatory Updates: The legal team will ensure that any significant changes in Australian or international regulations are communicated to the relevant departments promptly.
Review and Updates: The Compliance with Regulations Policy will be reviewed annually or in the face of significant regulatory changes, and any amendments will be communicated to all stakeholders.
