Product Regulatory Compliance Verification Increasing pace of technological advancement along with a constant development of solutions and products available on the market instigate constant changes within legal environment. Changes to the products manufacturing, distribution and usage require relevant amendment of the rules of introducing such products onto the market and their use. Products manufacturers, distributors and even users themselves are imposed numerous legal obligations, including administrative ones, whose non-performance may bring about serious consequences, including financial penalties. What child safety symbols and warning labels should be placed on a toy packaging? What is a measuring container bottle? Where in the shop there should be displayed information about collecting waste electrical and electronic equipment? In what way to recognize a recycling fee for plastic bags in the books of account? What products need to be reported to a competent inspector before their sale? These are just a few dilemmas that entrepreneurs must solve every day. In order to find their way through a highly complex system of requirements, which products placed on the market need to be consistent with, entrepreneurs must have knowledge of obligations stipulated by relevant laws and monitor law amendments to be able to comply with them. Moreover, sometimes the period provided for adaptation to new regulations is extremely short, thus in order to implement them on time, one must have knowledge even of their bills. Identification of appropriate requirements and obligations is equally important at the stage of commencement of a product sale and later on during its distribution. It is necessary not only to be familiar with the industry-specific regulations, but also with general conditions that apply to various types of business. Moreover, very often it is necessary to contact regulatory bodies in order to establish their interpretation of the applicable provisions. Each seller of certain products may face doubts if the products sold conform with the current requirements, if it does fulfil all administrative obligations imposed on it by the law, and what consequences of nonfulfillment of certain administrative obligations are. While dealing with a wide range of products, one needs to answer itself in particular the following questions: • What are the current legal requirements which these products need to comply with? • How to label the products correctly? • What information must be provided to the product users? • What is the legal status of a firm trading the products and what are the obligations imposed on it in this respect? • Is trading in products subject to any restrictions? • Is trading in products subject to a notification obligation? • Are any reporting obligations imposed on the seller? If yes, towards what authority? • Is the supervision of safe product usage required after the product marketing? If yes, on what terms? • What is the liability for defects of the products and for possible damage caused by them? • What procedures apply where products are suspended or withdrawn from the market? KPMG has a long-time experience in the provision of services to companies operating in regulated product industries. Our services are rendered by a multidisciplinary expert team and cover regulatory issues pertaining to all types of products.