Despite its simplicity, the phrase “regulatory compliance”
embodies multiple—and challenging—meanings. Frequently, executives
want to know “Are we compliant?” The view in this context
is simply binary; the operation either is or isn’t compliant (with
one or more regulatory aspects). Alternatively, compliance and risk managers
often interpret regulatory compliance as relating to not only performance,
but also the program, processes and effort levels associated with regulatory
Regulatory compliance is understanding your strengths, weaknesses and risks.
It includes developing controls (preventive, detective, and corrective)
to further bolster strengths and address known weaknesses. Organizations
must then correct any previously known violations and continuously improve
the governance, policies, processes and tools used to address both greater
granularity levels of regulatory requirements and the potential for prospect/customer harm.
The full white paper,
What is Regulatory Compliance? outlines best practice structures, processes and required actions to achieve—and
maintain—regulatory compliance in an evolving regulatory environment.
Download the white paper to read more.