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Compliance as defined, is simple, it’s making sure you follow the rules. What isn’t simple is the interpretation and creation of the rules. Compliance can be broken down into two areas.

Regulatory compliance, which is making sure that any business or action conducted by a company is within legal parameters and/or that all “reasonable” actions have been taken in order to prevent incidents.  The first step in risk mitigation. this includes signage disclosures, processes like Know your Customer and Customer Identification Procedures.

Regulatory compliance, which is making sure that any business or action conducted by a company is within legal parameters and/or that all “reasonable” actions have been taken in order to prevent incidents.  The first step in risk mitigation. this includes signage disclosures, processes like Know your Customer and Customer Identification Procedures.

The second section is Internal Compliance, this often goes by a multitude of different names but they all concentrate on internal policies and standards and ensuring that a company operates according to it’s own created culture.  A good rule of thumb is to set internal standards higher than the regulatory standards “CYA” for example if a law states visitors must wear hardhats in a certain area, then set your company standards so that access to that area is off limits to visitors.

-Craig Staszak