its not about ticking the box
Organisations are frustrated with the unprecedented amount of regulation that needs to be met in order to operate in local and global markets, while the direct business benefit is not always clear.
Leading organisations are seeing regulatory change as an area for competitive advantage. In our experience, this means that an organisation needs to understand the rationale behind regulation, how it can become an opportunity in the business and how to position it as such to its key stakeholders.
Over the last few years, numerous regulatory amendments have been introduced across industries, such as the Protection of Personal Information (PoPI), to protect individuals' constitutional right to privacy. The Financial Services industry faces the greatest wave of regulation, such as Foreign Account Tax Compliance Act (FATCA), Solvency Assessment and Management (SAM), Basel III, Treating Customers Fairly (TCF) and PoPI are being introduced in fast succession to: