compliance with regulatory requirements
an organization's adherence to laws, regulations, guidelines and specifications relevant to its business. Violations of regulatory compliance regulations result in legal punishment, including federal fines. Regulatory compliance describes the goal that organisations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws and regulations. Every company must have a regulatory compliance officer whose sole focus is to make sure the organization conforms to stringent, complex legal mandates. Along with company employees, critical third-party intermediaries, such as distributors are also accountable to the Company’s policies. Due diligence and background checks should be regularly conducted on sales intermediaries to help ensure compliance with company policies.