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Explain five different between regulatory and compliance?
Qemuel Stephano
more than 4 weeks ago
#compliance-requirements
#business-impacts
#legal-implications
#regulatory-framework
#implementation-process
Explain five different between regulatory and compliance?
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ChatGPT
more than 4 weeks ago
1. Scope: Regulatory refers to the rules and regulations set by government authorities or regulatory bodies, while compliance refers to the act of following these rules and regulations.
2. Focus: Regulatory focuses on creating and enforcing rules and regulations to ensure the safety, fairness, and efficiency of markets and industries, while compliance focuses on ensuring that organizations adhere to these rules and regulations.
3. Responsibility: Regulatory bodies are responsible for creating and enforcing rules and regulations, while organizations are responsible for ensuring compliance with these rules and regulations.
4. Consequences: Non-compliance with regulatory requirements can result in penalties, fines, or legal action, while compliance with regulations can help organizations avoid these consequences.
5. Monitoring: Regulatory bodies monitor and enforce compliance with regulations through inspections, audits, and investigations, while organizations are responsible for monitoring their own compliance and implementing measures to address any non-compliance issues.
2. Focus: Regulatory focuses on creating and enforcing rules and regulations to ensure the safety, fairness, and efficiency of markets and industries, while compliance focuses on ensuring that organizations adhere to these rules and regulations.
3. Responsibility: Regulatory bodies are responsible for creating and enforcing rules and regulations, while organizations are responsible for ensuring compliance with these rules and regulations.
4. Consequences: Non-compliance with regulatory requirements can result in penalties, fines, or legal action, while compliance with regulations can help organizations avoid these consequences.
5. Monitoring: Regulatory bodies monitor and enforce compliance with regulations through inspections, audits, and investigations, while organizations are responsible for monitoring their own compliance and implementing measures to address any non-compliance issues.
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