Compliance obligation
Any duty an organisation must meet, whatever its source: a statute, a regulation, guidance, a supervisory expectation, an industry standard, a licence condition or a contract.
Overview
Compliance obligations originate from multiple sources at the same time. A financial institution may be governed by federal law, state law, banking regulators, securities regulators, privacy laws, anti-money-laundering rules, cybersecurity guidance, industry standards, professional licensing requirements and SRO obligations.
Each source can create unique requirements, and they do not always agree. Part of compliance work is reconciling them into a single set of things the organisation actually does.
It connects most directly to Obligation, The five layers of obligation and Control.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
An obligation you have not identified is one you cannot control or evidence.
Who it affects
Every regulated organisation.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to Compliance obligation. Select one to open it.
What to do about it
- 1Map where your obligations come from.
- 2Link each one to the controls and evidence behind it.
- 3Review the map whenever the business or the rules change.
From requirement to evidence.
Regulation Layer extracts obligations from all five layers and links each one to the controls that meet it.
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