Compliance -- dotting all the i's and crossing all the t's in a regulated business -- has always been difficult. The slightest error can lead to fines, a business shutdown or even jail time for executives.
And the compliance burden is ever-growing, as legislators create new laws that a business must obey. At times it seems that a compliance officer or general counsel almost needs an entire law firm simply to keep up with which laws to keep up with.
In fact, purely from an administrative perspective, each new regulatory program often requires licensing of software that must be installed and maintained. Filing all of the required reports on time can require additional full-time employees.
See full Article.
To be published on September 10, 2005
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