We support lawyers working on regulatory matters responding to Australian and international regulatory bodies.
Advice for lawyers
Key Timings: Regulatory matters
eDiscovery and peripheral workflow solutions can give lawyers a competitive advantage when managing the collection, analysis and review of data and documents, from the outset of their matters until the very end. Understanding the key moments throughout the regulatory response process at which you should consider the use of eDiscovery technology and services, will give you the maximum positive impact from working with your eDiscovery partner.
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Capturing critical document sources in the collection process
One of the first pitfalls we commonly see lawyers and their clients encounter relates to the process of locating all potential sources of relevant documentation and data relating to the matter at hand. There is often a failure to consider all the potential sources of relevant data and locate critical document sources at the outset of a matter. This can lead to all manner of complications as the matter progresses, with some proving very detrimental to the matter.
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Managing review volumes through reduction and prioritisation
With the dramatic increase in volume and sources of data, it is important to find a balance in the selection process. Often, the net is cast either too wide or too narrow. Both outcomes can present different challenges.
Due to inadequate rules and regulations governing how an organisation might create, store, and retain data, it is often difficult to easily narrow the data set to exactly what you are looking for without engaging in an eDiscovery process.
Should an organisation aim to limit their scope without specialised technology, it risks missing critical documents or not complying with its legal obligations. There are several ways in which a lawyer and their client can, using eDiscovery technology, reduce what they might need to review and prioritise important documents for immediate review.
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Regulatory
Sky Discovery supports lawyers in Australia working on regulatory matters involving a wide range of regulatory and quasi-regulatory bodies, like Commissions of Inquiry. Matters are broad and diverse, covering both civil and criminal penalties across financial services, privacy, corporate conduct, cyber, and tax, amongst many others.
The current regulatory landscape is widening with an increase in the number of regulators and their respective powers. As a result, regulated entities are required to not only reactively respond to regulatory requests within very specific time frames and in very specific formats, but to take proactive steps to prepare for such requests.
Navigating the tight timeframes and expanding regimes is further complicated by the exponential increase in the volume and type of data and documents being created and managed by regulated entities. Certain regulators acknowledge the challenge faced by lawyers responding to notices or complying with regulatory requirements but expect that lawyers will adopt best practice eDiscovery workflows to ensure timely and accurate compliance.
Sky Discovery is your eDiscovery partner for regulatory matters. Our expert team of lawyers and technologists work in partnership with you and your team to ensure the data and document management process runs seamlessly from the moment a regulatory matter arises through to the day that it is resolved using solutions that are built for speed and accuracy.
We can assist you to:
- Prepare for any potential regulatory request and begin the technical processes prior to receipt
- Navigate and comply with the relevant regulator’s technical response requirements
- Negotiate any variations to submission protocols that govern the use of technology in the response
- Locate and collect relevant data from various systems in a defensible manner
- Guide you on the technological processes and systems that will best assist your regulatory review workflow
- Cull irrelevant documents and duplicates from the dataset and focus on critical information
- Deploy advanced technology to improve the speed and accuracy of document review
- Produce a response to the regulator compliant with their technical response requirements
- Prepare for any subsequent regulatory requests or hearings
As regulatory matter specialists we continually invest in R&D and best practice so we can advise our partners with confidence. These insights culminate in helpful resources for lawyers and decision-makers.
Insights for decision-makers
What makes a good eDiscovery partner
eDiscovery can appear to be a complex process and will almost certainly be if you don’t have the right team assisting you. Selecting the best eDiscovery partner can have a big impact on your success in each matter. For months, and even years, they will need to act as an extension of your team, working alongside you and supporting you throughout your matter, from start to finish. Understanding what separates eDiscovery providers from good eDiscovery partners is important.
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Using eDiscovery as part of your pitch to win work
Innovation will continue to be a core focus for lawyers. A good eDiscovery partner will proactively innovate solutions across their technical and development teams to overcome data and workflow challenges. In turn, these solutions can form part of your organisation’s overall strategy to deliver competitive service levels and value to your clients. You should work in conjunction with your eDiscovery partner to build these communications into your pitch to win work and maintain strong client partnerships.
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Overcoming misconceptions or objections to using eDiscovery
eDiscovery and the peripheral solutions are no longer processes that only apply to large matters, either in terms of the volume of documents or the value of the dispute or action. The reality is that eDiscovery has evolved and done well, it is enveloped in a range of complimentary services that create a competitive advantage for legal teams from who are responsible for identifying, collecting, analysing, and reviewing data in any legal or quasi-legal environment. There is an increased adoption of eDiscovery technology and processes, and it is expected that this will only continue to increase. Any objection held to the application of eDiscovery to a matter, particularly a dispute, is generally based on outdated assumptions about the technology and service or poor experiences with sub-par providers.
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We make the technical, practical.