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Reckless Regulatory Change Management

Carole Switzer | December 23, 2016

We all know the legal standard of “knew or should have known” often applied in negligence cases and regulatory enforcement actions. It has led to innumerable legal decisions concluding:

  • Ignorance of the law is not a defense.
  • Failure to consider obvious outcomes of action is not a defense.
  • Putting on blinders instead of investigating an issue is not a defense.

When I was in law school, way back in the day before desktop computers let alone the internet, we learned the meaning of “should have known” was what a reasonable person similarly situated would know, or in the case of specialized knowledge what a peer with similar training and responsibilities would know. Failing to know what you should have was deemed reckless, but there was little or no discussion about how one would or should gain such knowledge.

Today, with advances in technology and the availability of cost-effective methods of collecting and analyzing data, we should be...

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