Research

Navigating a Complex Regulatory Landscape:Key Principles of a Holistic Compliance Solution

Regulatory compliance impacts almost every enterprise, irrespective of its size and scale or the geography and sector in which it operates. Managing and demonstrating compliance with the complex web of evolving regulations can be time consuming and expensive.

With an increasing number of businesses coming under the purview of external regulators, the regulatory landscape is likely to become all the more complex in the future. Non-compliance with regulations may not only result in severe financial penalties but also risk the organization’s reputation. It may, in some cases, lead to extreme consequences such as closure of business. Therefore, non-compliance is not an option. In fact, compliance ranks high as an area of concern for a majority of CEOs and enterprises continue to spend heavily on ensuring adherence. Annual regulatory outlay  within the U.S. alone is approximately USD 2 trillion . Banks in the U.S. spend close to USD 15 billion every year on regulatory compliance. 

This paper highlights the challenges with the current approaches used by the industry and the research community to achieve regulatory compliance. It also outlines the key requirements for implementing an effective compliance solution that brings together the benefits of a document-centric as well as a formal approach.

Reach Us.

Share