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Don’t Wrestle The Regulatory Compliance Bear By Yourself!

Get Professional Regulatory Compliance Consulting In Fort Worth.

Bear wrestling. – Believe it or not, some people battled with bears on purpose!

It began sometime in the middle 1800’s in Europe, but the sideshow practice of wrestling bears didn’t take long to jump the pond and make its debut in North America.

In 1877 in New York, a Frenchman named Thiebaud Bauer went head to head with a bear named Martin. Although Thiebaud “won” the contest (two out of three falls), the match wasn’t quite fair. Martin, the bear, was muzzled and had “mittens” securely attached to his front paws.

Think you can win the death match of wrestling with regulatory compliance all by yourself?

Let’s face it. You need some help from a professional regulatory compliance consultant if your Fort Worth business is going to tackle that bear.

But C. Dale Peterson didn’t need any help. He was a Jackson Hole resident that was born in 1914 – and one of the toughest men on planet earth.

Peterson was a hunting guide that literally killed a bear with his bare hands after it attacked a group of hikers. How did he do it? He jammed his right fist down the bear’s throat and… Well, you can look it up and read the story, but suffice it to say, the bear didn’t bother those hikers again.

Do you want to do less wrestling with the menacing bear of regulatory compliance? Then your Fort Worth business needs regulatory compliance consulting from a company like VersaTrust.
Companies like yours in industries related to government work, healthcare, and financial services have to wrestle with the demands of legislative and industry-standards IT compliance every day. An IT support team with a background in your industry can help you streamline and simplify that compliance process – alleviating your stresses and freeing your time from the chokehold of regulatory compliance.

  • HIPAA – The Health Insurance Portability and Accountability Act is the nation’s set of laws governing private health information. It is a complex set of regulations with a corresponding severe fine and penalty structure for infractions. Those involved in healthcare along with those that do business with healthcare companies are subject to this legislation.
  • Sarbanes-Oxley – The Sarbanes-Oxley Act (1992) was introduced as a measure intended to prevent company scandals and accounting malfeasance. The legislation covers public companies, financial management, and public accounting firms. Included in the Act are provisions that also govern aspects of private company actions. At its core, the act covers fraud, tax returns, financial disclosure, corporate responsibility, auditor independence, and the establishment of Public Company Accounting Oversight Boards.
  • FINRA – The Financial Industry Regulation Authority is, in their words, authorized by Congress to protect America’s investors by making sure the broker-dealer industry operates fairly and honestly.This work includes writing rules for the industry, enforcing compliance, encouraging transparency, and educating the individual investor.
  • Industry-Specific Compliance Standards – In nearly every industry, compliance is the fastest growing aspect of the business. Why? Companies want to protect their bottom line from lawsuits. Each sector, to one extent or another, has its own set of rules or industry standards that a company must follow or face the consequences. In our day of cyber-crime, those compliance standards include regulations governing the use, storage, and security of data.
  • PCI - Payment Card Industry Data Security Standard came out of the formation of the Payment Card Industry Security Standards Council. This council was the industry’s answer to the need for a standardized approach to cardholder information controls. The objectives of PCI range from protecting cardholder data to the monitoring and testing of the networks on which that data travels.
  • GDPR – Any company with customers, suppliers, or partners in the EU or Britain is subject to this European regulation. The regulation is intended to assist in private data security and to bring a global standard in dealing with customer information across industries. GDPR covers a range of issues from the reason data is collected to the ability for individuals to demand to see the information that a company has collected about them.

What To Do If The Bear Of Regulatory Compliance Has Your Fort Worth Business In Its Claws.

Companies worldwide are facing a heavier compliance load. This is a natural outcome of our information-driven age. While there are many aspects of compliance that companies are handling well, the IT side of regulatory compliance is somewhat of a mystery to them. Why? Companies like yours are very used to doing legal and industry-standards paperwork. What your business isn’t as adept at are information security and personal information privacy. This is where a compliance consultant comes into the picture and helps you with meeting the technology side of the rules imposed on your business by government and industry.

Here are the steps that you need to take.

  1. Step #1 – If you are unsure what compliance is required of your business, consult with industry leaders and industry professional organizations to ensure that you are targeting the appropriate standards and legislation with your efforts to comply.
  2. Step #2 – Find a regulatory compliance consultant in Fort Worth that can help you walk through the process of getting your technology and data security set up to meet applicable regulations and standards.
  3. Step #3 – Partner with that compliance consultant and give your Fort Worth business a comprehensive, continuous approach to IT compliance through management, maintenance, and monitoring of your IT systems.
  4. Step #4 – Meet with that compliance consultant on a regular basis – quarterly, bi-annually, or annually – to ensure that you are on track with the latest modifications to legislation or industry mandates.

Taking these four steps will save you the headaches and endless hours of wrestling with your technology to bring it in line with current legislation and industry standards.

IT compliance is not a bear that you have to wrestle on your own! A regulatory compliance consultant in Fort Worth that’s as tough as C. Dale Peterson will help you get and keep the IT aspects of compliance under control.

Want to read more about IT security’s regulatory compliance implications? Check out this article.

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