E-Discovery for Regulatory Inquiries

Even for well-prepared legal teams, an audit or investigation by a regulatory authority such as the SEC, FDA, or FERC can be time consuming, stressful, and expensive. The recent growth in the number of regulatory inquiries and associated fines for non-compliance highlight the growing risk facing organizations in regulated industries such as healthcare, energy, telecommunications, transportation, and financial services. Organizations seeking to avoid stiff penalties, deficiency letters, or sanctions need to respond quickly and comprehensively to regulatory inquiries and routine audits.

However, many organizations lack a repeatable and defensible process that reduces the high costs of responding to regulators. Many traditional processes and tools involve manually reviewing irrelevant documents, which is time-consuming and expensive. What’s more, organizations often lack the ability to rapidly identify information for regulators in a defensible way, leaving them far more vulnerable to risk and financial exposure. As a result, many organizations in regulated industries are in need of a solution that enables them to respond more rapidly and cost effectively to inquiries and audits by regulators.

The Clearwell Solution: Respond quickly and accurately to regulators

As part of a systematic culture of compliance, the Clearwell E-Discovery Platform helps organizations reduce the cost and risk of responding to government regulators. Using Clearwell, compliance teams have the ability to easily collect data from investigation targets via the network or on-site, cull and filter irrelevant data, analyze documents for possible violations, and produce evidence for regulators using a single application that integrates and streamlines the entire process.

Key benefits of using Clearwell to respond to regulatory inquiries include:

• Simplify and streamline network and on-site data collections
• Rapidly analyze electronic documents, reducing the cost of organizing and analyzing data for regulatory inquiries
• Respond to inquiries from task forces and auditors quickly and comprehensively
• Immediately uncover potential issues based on conceptual analysis of the documents
• Increase the productivity of existing resources by reducing manual, time-intensive document searches
• Share results of compliance audits in the most widely used data formats used by government regulators