Compliance for a business with the law is more complex than you might think. You see, in order to meet the regulations of the FDA and other authorities that regulate cosmetics, pharmaceuticals, and other personal information-related products, you have to comply with their standards. This includes the implementation of policies and procedures that ensure that your company follows all the necessary procedures to provide consumers and other third parties with quality products and service. The regulations are not just the rules that you have to follow, but they are also the requirements that you must meet in order to stay compliant.
The Food and Drug Administration (FDA) is the lead regulator for many nations and their cities.
Their regulations can be very specific as well as general to each jurisdiction. These standards and laws have been enacted by the legislative body of the country where the business is domiciled. Many countries have their own governing bodies that regulate businesses in compliance with their own laws. Many regulations fall under the category of statutory laws. Under these laws, the FDA, HIPAA compliance and other regulatory authorities lay down the rules and requirements that all companies must adhere to.
Some of these statutory laws regulate the manufacturing and processing of a product or the provision of a service related to that product or service. Others regulate the marketing of that product, or service as well as the packaging or labeling of that product or service. Yet some jurisdictions lay down more general rules and requirements. For example, the Food and Drug Administration requires that all cosmetics and pharmaceuticals are displayed in a particular color, size, and other specifications. Some areas have even established mandatory guidelines for the submission of documents. The FDA does not regulate product safety, although it does monitor the uses of various ingredients and does keep records of them for purposes of recalls and other regulatory activities.
In some cases, when you develop or offer new products or services you will be required to submit documentation for your business. In most cases, the submission is voluntary but you should consider whether it’s worth the effort of compliance unless you have a valid need for it. Api logs can reveal quite a lot about your business including who you deal with, the frequency of your sales and the amount of times you contact other businesses to sell their products and services. This information can be a direct violation of privacy rights and can lead to serious penalties.
When it comes to compliance, it’s easy to forget that there are multiple levels
of surveillance involved. First, you must inform your clients about the security features of any product or service you provide. You must also install and use at least one biometric identifier – such as a fingerprint or iris scan – to identify you and the person to whom you provide services. Failure to comply could result in fines and penalties. Failure to report stolen biometric data could result in the loss or misuse of this information.
- Not all compliance programs require the reporting of all of the security risks your company faces.
- Biometric identification systems and fingerprint or iris scanning devices may only be required by federal and state regulatory agencies.
- To establish and maintain regulations that protect consumers from identity theft and fraud.
Merely implementing generic quality management programs to manage these risks may not be sufficient. For instance, a good biometric identifier database could allow you to identify employees that have access to sensitive business information, but may not identify your cashiers and stock clerks.
Finally, the types of information that are reported by compliance programs will differ depending on the nature of the risk and the sensitivity of the information. Financial and investment data, for example, would likely involve more detailed reporting. Health care information may require a more detailed report. Compliance with a global compliance management system is most effective when business units are made individually responsible for the monitoring of their respective networks.