Regulatory Compliance Challenges Companies Face

Companies of all sizes and in all industries are facing increasing regulatory and self-regulatory requirements. The challenges inherent in meeting regulatory compliance obligations are exacerbated in today’s world, where corporate information continues to grow exponentially in volume, increase in variety and move with greater velocity. In order to meet their regulatory compliance obligations, corporations today need information governance strategies designed to leverage their people, processes and technology, and to create a culture of compliance. Non-compliance with regulatory requirements may result in significant costs to companies in the form of fines, civil and criminal sanctions, and increased regulatory scrutiny.

How Fey|LLC Helps Companies Address Their Specific Challenges

At Fey|LLC, we assist our clients in developing and implementing tailored solutions for retaining, reporting and protecting their information in compliance with their particular regulatory obligations. Through our information governance work for clients in a wide variety of industries, we have developed a wealth of knowledge concerning U.S. and international regulatory requirements covering a variety of industries. Our background and experience provide us with a strong base for the regulatory compliance work we perform for our clients.

We help our clients develop overarching information governance programs designed to help them get their information “house in order” so they can better meet their regulatory demands. We assist our clients in establishing a culture of compliance. We provide ongoing guidance to our clients concerning the regulations that impact their unique information and their unique information technology infrastructure.

Our regulatory compliance work covers all steps of the information lifecycle—from helping our clients identify and gather the information they need to develop their records retention schedules to documenting disposal of company information, including records. We also assist clients in determining and providing information to employees on the proper storage location for specified categories of records, and otherwise implementing their records retention schedules within the framework of their information systems. Additionally, we develop training programs that incorporate client-specific and industry-specific scenarios to help employees better understand the importance of meeting compliance obligations. As needed, we counsel our clients in responding to regulatory inquires and challenges touching upon information governance.

Further, we assist clients with selecting and implementing technology solutions that will help them meet their regulatory obligations and demonstrate compliance. As regulations evolve in an attempt to keep pace with rapidly changing technology, our multi-disciplinary team has the background, expertise and passion to stay ahead of the curve.

Fey|LLC Offerings

Fey|LLC offers clients a broad array of regulatory compliance assistance. We work closely with our clients in developing practical solutions to their specific regulatory compliance challenges. Our specific offerings include:

  • Regulatory compliance risk assessments and phased remediation recommendations
  • Policies and procedures covering specific compliance requirements
  • Checklists and workflows covering specific compliance requirements
  • Training and FAQs covering specific compliance requirements
  • International and country-specific records retention schedules
  • Guidance concerning data requirements related to specific types of business transactions (e.g., in accordance with E-SIGN, European Union E-Commerce Directive, PCI-DSS and NACHA)
  • Counseling on reporting requirements under specific acts and regulations (e.g., Affordable Care Act / Health Insurance Marketplace requirements and the Sarbanes-Oxley Act)
  • Advice regarding the storage, transfer and disposition of information, including records, in compliance with applicable laws and regulations
  • Assistance with regulatory investigations
  • Consulting regarding technology solutions to assist companies in meeting their compliance obligations
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