Regulatory Compliance in Business

Longtime Minnetonka, Minnesota resident Jamie Hurewitz serves as head of legal at Mattermost, where she is responsible for developing the legal and compliance framework for the early stage startup. Jamie Hurewitz's expertise includes employment and intellectual property law, as well as business regulatory compliance.

Compliance is the act of a business obeying rules and regulations pertinent to safe, legal operations in a region, state, or country. Examples of such rules are health standards and data security.

By being compliant, a business acts to maintain its reputation and prevent legal disputes. If a business contravenes any of the rules, it may be subjected to fines or even face charges for non-compliance, becoming vulnerable to financial losses in legal processes. Also, customers naturally tend to distrust entities with a history of noncompliance.

Regulations are not unnecessary obligations, and the majority of these rules contribute to helping businesses achieve better working environments. The purpose of these rules is to protect customers, businesses, and employees, among others. Some of these rules bring about more than one benefit. For instance, safety and security rules help protect workers from harm by reducing accidents and injuries in the workplace that would also directly or indirectly result in financial loss.