Knowra Regulatory compliance Regulatory compliance Regulatory compliance is the process of meeting laws, regulations, and other binding requirements imposed by government agencies or regulatory authorities.
Compliance management system : An organizational framework for identifying obligations, assigning responsibilities, monitoring controls, and correcting compliance failures. It turns regulatory obligations into recurring organizational processes.
Regulation : A rule issued by a government authority under powers granted by law. Regulations are a central source of the duties organizations must satisfy.
Data protection : The rules and practices governing the collection, use, storage, and disclosure of personal information. Privacy laws require organizations to manage personal data according to defined duties.
Corporate governance : The structures and processes through which an organization is directed, overseen, and held accountable. Governance sets oversight arrangements; compliance focuses on meeting external requirements.
Administrative law penalty : A sanction imposed by an administrative authority for violating a law or regulatory requirement. Regulators can impose fines or other sanctions when organizations fail to comply.
Regulatory risk : The possibility of loss or harm arising from failure to meet laws, regulations, or supervisory requirements. Risk assessment helps prioritize which obligations and controls need attention.
Administrative law : The body of law governing government agencies, their powers, and their decisions and procedures. It explains how regulators acquire authority and how their rules may be challenged.
Anti-money laundering : Laws and controls intended to prevent criminals from disguising the origins of illicit funds. Financial firms must monitor transactions and report specified suspicious activity.
Business ethics : Principles and standards used to judge conduct in business as right or wrong. Ethical conduct can exceed legal duties, while compliance may require only the applicable minimum.
Corporate liability : The legal responsibility of a corporation for its own acts or, under applicable rules, those of its agents. Compliance failures can expose an organization to civil or criminal responsibility.
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