All firms, regardless of size or industry, have operational requirements that require them to abide by specific rules and regulations. In actuality, regulatory compliance refers to a set of rules that businesses must abide by under the law. For instance, it can entail following the guidelines established to guarantee a secure workplace for staff members. Alternatively, it can entail adhering to the Equal Employment Opportunity Commission's requirements to guarantee recruiting procedures free from prejudice. Industry-specific regulations also apply to compliance. To guarantee product safety, several guidelines established for the food sector, for example, concentrate on the complete supply chain. These would not be the same as those for the financial services sector, where part of the regulations center on cybersecurity and handling sensitive data.
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