Compliance 1012

  • Outside of SOX, can someone point me to the right direction to other Regulatory Compliance rules? My company also wants to put a team together to address this and we’re not sure where to begin, as this will be a new project for everyone.

  • There is a lot of confusion about which regulations affect companies. Compliance continues to be a costly and time-consuming burden.
    The most important question is: Which is your industry?
    For example:
    You must comply with Health Insurance Portability and Accountability Act (HIPAA). HIPAA impacts any healthcare organization (health care providers, health plans and health care clearinghouses) that maintains electronic health information as well as all of their vendors and business partners.
    Financial Services
    You must comply with Gramm-Leach-Bliley Act (GLBA). Financial institutions have to protect customer and employee data from internal and external threats and unauthorized access occurring through online systems and networks.
    Consumer privacy laws may also apply to companies that keep records on customer accounts and credit card transactions.
    Employment-related laws and regulations impose record-keeping and reporting requirements.
    Discuss with the legal department :?

  • Might I also add to that - what jurisdiction(s) do you operate in? Global and multi-national companies can face numerous regulatory requirements in each and every market that they operate in.

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