No matter the industry or company size, all businesses must adhere to certain laws and regulations as part of operations. Regulatory compliance, in fact, deals with a set of guidelines that the law requires organizations to follow. It might involve, for example, observing rules set forth to ensure a safe work environment for employees. Or it could mean following the guidelines of the Equal Employment Opportunity Commission (EEOC) to ensure discrimination-free hiring practices. Regulatory compliance also pertains to specific industries as well. For instance, some standards outlined for the food industry focus on the entire supply chain to ensure product safety. These would differ from the requirements for the financial services industry, some of which focus on how to handle sensitive data and cybersecurity.
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