Naima Hoque Essing, Senior Analyst, Lead for Risk Consulting
Published: Apr 27, 2017
The Shifting Heavy Burden of Regulatory Compliance
The shift in regulations away from technical, rules-based standards to more subjective, principle-based approaches create new challenges for organizational…
The shift in regulations away from technical, rules-based standards to more subjective, principle-based approaches create new challenges for organizational compliance. Newer value-based approaches require organizations to not only comply with all applicable rules but also demonstrate to regulators the effectiveness of the compliance program itself. Two ways regulators are assessing compliance program effectiveness are through an evaluation of the existence and proper functioning of organizational regulatory change management programs and satisfactory demonstration of ethical leadership and an enterprise-wide culture of integrity.