Original Source: Tech Target
“Regulatory compliance is an organization’s adherence to laws, regulations, guidelines and specifications relevant to its business processes. Violations of regulatory compliance regulations often result in legal punishment including federal fines.
Examples of regulatory compliance laws and regulations include the Dodd-Frank Act, Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), the Federal Information Security Management Act (FISMA) and the Sarbanes-Oxley Act.
Why regulatory compliance is a big deal
As the number of rules has increased since the turn of the century, regulatory compliance management has become more prominent in a variety of organizations. The development has even led to the creation of corporate, chief and regulatory compliance officer and compliance manager positions. A primary job function of these roles is to hire employees whose sole focus is to make sure the organization conforms to stringent, complex legal mandates and applicable laws…”
https://searchcompliance.techtarget.com/definition/regulatory-compliance
Contributors: Open SourceCategories: Industry Articles, SIG U Resource
SRC Type: Contract Development, Sourcing