Regulation Plan for Alumina Inc.
LAW531
21 March 2011
Mr. Majid Safaie

Regulation Plan for Alumina Inc.
Regulatory risk, by definition, is a risk to which private companies are subject, arising from the possibility of legislation or regulations that will affect business being adopted by a government [ (Unabridged, 2009) ]. To avoid this risk, Alumina Inc, must be proactive in their approach to legal analysis, marketing, public relations, and various other elements of business. Alumina, Inc also needs to be aware of regulatory policies, legal responsibilities, public information requirements and the various policies and procedures that may be applicable to their operation and the possible consequences facing them for failure to comply with government regulations. In cases of noncompliance, guidelines need to be in place for responding to allegations, both publically and to the government. The goal of Alumina, Inc is to avoid these situations and maintain their operation at optimal tempo, avoiding all unnecessary dealings with regulatory agencies, while staying mindful of potential problems.
By identifying regulatory risks, Alumina, Inc is able to manage these risks on their own terms and avoid being caught off guard by regulatory changes or minor offenses. Preventive measures fall to the legal department, research and development, and marketing elements. This collaborative and preventive effort will ensure that each department has the knowledge to maintain itself according to regulatory standards, and have guidelines in place to respond to potential violations and litigations. Also, each department should have a working relationship with their counterparts at regulatory agencies; this will ensure an amicable interaction should violations or allegations occur.
Detective measures include the legal department and public relations element. It is up to the