We are living in an era of increased regulation and renewed enforcement efforts, especially for public companies as well as private companies in industries associated with the 2008 meltdown. Governmental regulation and enforcement is typically reactionary in nature rather than proactive.
Could you imagine where we would be today if the mortgage origination industry and mortgage-backed securities had been regulated this decade?
Obviously there are costs associated with regulatory compliance and I am not suggesting that everything needs to be regulated to a high degree. What I am suggesting is that it is in every organization’s best interest to take seriously the need for a robust corporate compliance program.
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