What is Regulatory Compliance?
Definition
Adherence to laws, regulations, and industry requirements governing data protection, privacy, and operations. Regulatory compliance varies by industry (HIPAA for healthcare, FINRA for finance, FedRAMP for government) and geography (GDPR in EU, CCPA in California). Non-compliance results in fines, operational restrictions, and reputational damage. RFPs should identify applicable regulations and require vendors to demonstrate compliance capabilities and certifications.
Why This Matters
Regulatory compliance varies by industry and geography. Non-compliance results in fines, operational restrictions, and reputational damage. Organizations must identify applicable regulations (HIPAA, GDPR, FINRA, FedRAMP) and verify vendor compliance capabilities. RFPs should require vendors to demonstrate compliance through certifications, audit reports, and compliance program descriptions. Compliance responsibility often remains with customer even when using third-party services.
Related Terms
Showing semantically related terms from our RFP knowledge graph. Priority connections are highlighted.
Essential Connections
Compliance Certifications
Security & Compliance
Official attestations proving adherence to security and regulatory standards including SOC 2, ISO 27001, HIPAA, PCI DSS, FedRAMP, or industry-specific certifications.
Security Compliance
Security & Compliance
Adherence to security standards, certifications, and regulatory requirements to protect data and systems.
Privacy Compliance
Security & Compliance
Adherence to privacy laws and regulations governing collection, storage, processing, and sharing of personal data.
GDPR
Security & Compliance
General Data Protection Regulation - European Union law protecting personal data privacy and giving individuals control over their information.
HIPAA
Security & Compliance
Health Insurance Portability and Accountability Act - US law protecting patient health information privacy requiring encryption, access controls, audit logs, and breach notification.
PCI DSS
Security & Compliance
Payment Card Industry Data Security Standard - requirements for organizations handling credit card data including network security, access control, encryption, monitoring, and testing.
Compliance Standards
Security & Compliance
Multiple compliance frameworks and regulations organizations must satisfy simultaneously.
Compliance Risk
Security & Compliance
Potential for violating regulations, standards, or contractual obligations resulting in fines, restrictions, or reputational damage.
Security Audit
Security & Compliance
Independent examination of security controls, policies, and practices verifying compliance with standards like SOC 2, ISO 27001, or industry regulations.
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