Regulatory Compliance

Maintain regulatory compliance and reduce fines with LogicGate

The ever-increasing volume of government regulations and costly enforcement actions are presenting new, unforeseen challenges to organizations as they attempt to become compliant. With the increasing complexity, regulatory compliance can no longer be left up to individual department managers. A centralized approach to regulatory compliance can help reduce costs and ensure full adherence to laws and regulations.

LogicGate takes the approach that technology must be used to efficiently and successfully become compliant with all regulations. The right technology can bring together the Legal, Compliance, and Internal Audit departments of organizations, which must work in concert to ensure full compliance. A successful regulatory compliance solutions produces a culture of compliance within an organization and assists the company to become a good corporate citizen – ultimately increasing customer retention and reducing cost in the form of fines, fees, and enforcement actions.

People, process, and technology
LogicGate Regulatory Compliance

LogicGate's Approach to

Regulatory Compliance

Understanding regulations

Understand Regulatory Requirements

  • Identify Regulatory Agencies and Sources – Identify the federal, state, and local regulatory agencies that impact your lines of business.
  • Identify Applicable Regulations – Once the regulatory agencies are known, identify the laws and rules that are applicable.
  • Prioritize Requirements – Decide which regulations are most critical for your business.
  • Regulation Impact

    Determine Impact

  • Identify Impacted Business Processes – Perform a detailed mapping and analysis of your lines of business to determine which regulations impact each business process.
  • Identify Procedures, Policies, Training, IT Systems, and other controls that address the regulatory requirements – Create an inventory of all your control artifacts that can potentially be impacted by regulations.
  • Assessment of Regulations

    Assessment

  • Test effectiveness of current Policies, Procedures, Controls, and Training – Your line of business experts should analyze each regulation and determine whether there is sufficient documentation in place for line operators to be in compliance with the law.
  • Identify Gaps in Compliance – If gaps in compliance exist, determine what updates to control artifacts would bring your organization into compliance.
  • Remediate Regulatory Gaps

    Remediation and Execution

  • Update Policies, Procedures, Controls, and Training – Work with your change management organization to ensure that policies and procedures are properly updated to be compliant.
  • Communication – Communicate changes to policies and procedures to line of business operators.
  • Industries that are Highly Regulated

    Highly Regulated Industries

    Financial Services Regulations

    Financial Services

    Regulations that impact financial services firms come from a wide variety of federal government agencies in the United States including the OCC, Federal Reserve, CFPB, SEC, CFTC, and FINRA to name a few. Given the large volume financial regulation authorities, ensuring organizational compliance can be a daunting task.

    Pharmaceutical regulations

    Pharmaceutical & Life Sciences

    Organizations in the pharmaceutical and biotechnology industry not only face rigorous regulatory requirements from U.S. Federal agencies (e.g., FDA) but also from global regulatory bodies such as the European Medicines Agency. cGMP, ISO, and 21 CFR Part 11.

    Energy Regulations

    Energy

    Organizations operating in the energy and utility sectors are bound by the rules put in place by several regulatory bodies including the Federal Energy Regulatory Commission (FERC), North American Electric Reliability Corporation (NERC), Commodity Futures Trading Commission (CFTC), and Environmental Protection Agency (EPA).

    Healthcare

    Healthcare

    There are numerous other Federal, State, and Local healthcare regulations (ICD-10, Red Flags, etc.) that put pressure on healthcare organizations and disrupt normal business activities. Healthcare organizations that transmits patient information electronically are governed by the Health Information Portability and Accountability Act, or HIPAA.