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What is regulatory compliance and why does it matter?

Regulatory compliance might strike some, even those Fresno County residents who have some knowledge of business law, as a relatively new legal phrase that may have limited meaning for them. Moreover, business owners may not totally understand why compliance is an important thing for them to think about as they go about growing and sustaining their businesses.

Perhaps more so than in the decades gone by, both the state and federal governments have taken a keen interest in how businesses, sometimes even smaller businesses, are operated and have promulgated lots of rules that cover a variety of topics, including things like financial and other reporting, trade sanctions, employment law issues, licensing and environmental regulations. These rules serve the purpose of making sure businesses have the opportunity to compete fairly in an open market but do not use that liberty to abuse or take advantage of the general public.

Some of the laws that California, Fresno, and the federal government have promulgated apply broadly to all or almost all businesses, while some of them only apply to particular type of business or industry. Particularly since these laws are far ranging and often involve complicated requirements, it often stakes an able business lawyer to help an organization navigate through these laws and implement their own plans for making sure they follow them.

Not taking one's regulatory obligations seriously can have a significant impact on one's business. For instance, failing to comply could mean having to deal with a costly government investigation followed by a steep fine or other penalty, as well as the bad press that goes with such actions. Completely ignoring regulations can also lead to criminal penalties.

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Law Office of Jeffrey B. Pape, P.C.
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