Regulatory change needs an owner
Companies should define who monitors relevant developments, who decides applicability and who coordinates implementation.
A six-step process
- Monitor official sources.
- Record the change.
- Assess applicability.
- Identify affected people and documents.
- Implement and communicate.
- Verify effectiveness.
Why official sources matter
Regulatory summaries are useful for orientation, but implementation decisions should be based on the applicable official instrument and competent authority guidance.
Editorial principle: Regulatory implementation should be checked against the applicable official instrument and competent maritime administration.
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