While customer satisfaction is an area that is given prime importance, it is also imperative to look at regulations that govern security aspects. It is compliance to these statutory bodies that will bring global recognition to any organization. SEC 17a-4, NASD 3010, NYSE 342 and Gramm-Leach-Bliley Act are some regulations that are applicable to financial services industry. Health care and Pharmaceuticals are bound by the FDA—Title 21, Part 11. All public companies need to comply with Sarbanes-Oxley (SOX) Act.
Security practices are the basis on which compliance is built. So, care must be taken when regulations change across countries. Most laws that are country specific are related to data protection. These factors have lead to the need for a comprehensive compliance management solution that will address all issues. This helps in providing a complete analysis of complying with various regulations keeping in mind the type of industry and areas of operation.
