No one is untouched by the impact of regulation. But are you letting regulation happen to you, or are you embracing it and exploiting the opportunities compliance can bring?
The critical issues
- Freedom from scrutiny - It may seem like a paradox, but if you sort it out and do it well, a good regulatory response buys you a lot of freedom, allowing you to invest in your business with less scrutiny. Being seen as a regulatory high performer is a great way to be viewed by your regulator.
- Regulatory engagement - It's easy for you to feel overwhelmed by the sheer volume and complexity of regulation. This is made worse by an environment that can be multiregulator and multi-jurisdiction, where non-compliance varies in impact and the regulatory landscape is constantly evolving.
- Navigating complexity - Faced with this deluge of regulation, how do you stay on top of it? Interpreting regulation and finding the right balance between responding to it and delivering 'business as usual' can be a struggle. You need to find a way to navigate regulation.
- Regulatory good citizenship - Leading organisations that are regarded as 'regulatory good citizens' are those that embrace regulation, recognising that it drives resilience, good practice, control, competition, governance and performance. It's important to ensure that regulatory good citizenship underpins your broader business goals.