Compliance to new laws or regulations may significantly affect the company's operations and increase compliance costs. The Company maintains strong lines of communication with our government partners both local and national levels and remains supportive and compliant with regulations set by the government. Mitigation - Maintains strong lines of communication with our government at the local and national levels, ensuring compliance with regulations set by the government. - Partner with the government in improving communities and contribute to nation building. - Quarterly reporting to Board of Directors on the updates from upcoming laws and regulations and the current implementation status of new laws and regulations - Enhancing compliance effectiveness of Globe by/through: » Proactive internal compliance assessments » Enhancing internal controls on processes impacted by specific laws and regulations » Training the required staff and management on new laws and regulations » Programs that will establish and enhance the culture of compliance [...] Maintaining a healthy relationship with various government sectors including dialog with regulators and legislators. [...] Globe is closely monitoring the developments in relation to laws and regulations and has taken the necessary steps to ensure compliance.