“Compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, policies, and regulations.”
In a previous article, we looked at the basic elements of the RCE© framework.
In this article, we’ll delve a bit more into the left-hand part of the model: regulations, laws, standards and policies.
Many of Alpha CCO’s clients are registered with, or subject to regulation administered by one or more Canadian securities regulators in accordance with their industry or because their shares are listed on a stock exchange.
For example, in Quebec, the Autorité des marchés financiers currently lists over 50 acts, law, regulations and agreements that it administers or for which it is responsible for the enforcement. This includes, just as an example, the implementation of the United Nations Resolutions on the Suppression of Terrorism.
The RCE © method can help these clients implement a system of controls and supervision aiming to fulfill the following functions:
(a) provide reasonable assurance that the corporation and the individuals acting on its behalf comply with securities legislation;
(b) manage the risks associated with its business in accordance with prudent business practices.
Alpha CCO becomes an important strategic ally by enabling a system of controls tailored to an organization, and by allowing this system to evolve over time (for example, by following the continuous assessment of the design of controls or their effectiveness, the evolution of applicable regulatory bodies, ability to accept certain residual risks, etc.).